How is an Estate Plan the only way to avoid probate?
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There's a number of different strategies when it comes to avoiding probate. The basic concept is that any asset that does not have an automatic trigger to transfer to a new person is a probatable asset. So, if you have a house that's in your name and that's all you've done, that house becomes a probatable asset.
There are a number of techniques and tactics that you can use to have those assets automatically transfer. And a combination of those are usually what constitutes an estate plan. Once you've come up with a strategy on how you want to make those transfers, going through the process of making sure that all of your assets do transfer without going through probate, whether that is a beneficiary designation or joint ownership or putting the assets into something like a trust, is essential.
We support you in figuring out the method and technique that works best for you and your assets and your families on how those assets should transfer so that they don't have to go through the probate process. If you would like to know more about the topic, just reach out for a Free Consultation. We can help.
This video is for informative purposes only. It is not intended as legal advice. Small details can have big consequences. Want to know more about Estate Planning, schedule a free consultation with us.
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