Separating legal and equitable ownership, results in a very powerful mechanism to help you to avoid probate.
Further, you can avoid probate by establishing one or more trusts and transferring your assets to them during your lifetime.
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The way to avoid probate is to establish a revocable trust and transfer your property to it during your lifetime.
When used properly, they avoid probate court entirely and keep everything private.
That theoretically allows your heirs to avoid probate--the process by which a court supervises the distribution of your assets according to the terms of the will.
If your goal is to avoid probate totally, keep this in mind: using a living trust for this purpose only works for assets put into the trust.
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Good estate planning allows people to maintain control over their assets, receive assistance when needed, avoid probate court after death, and eliminate questions about their true intentions.
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People still need to plan their estate, to make sure their property goes to the persons they want it to go to, and to avoid probate on succession to their property.
Jointly owned assets generally pass on to the joint owner without going through probate, but for assets without a joint owner or designated beneficiary, you may have to change the way the assets are held in order to avoid probate.
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If you own out-of-state real estate, a living trust will help your heirs avoid going through probate in multiple states.
Still, there are times when you might want to use a living trust to limit how much of your estate goes through probate or to avoid it altogether.
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The only way in which you will avoid death or inheritance taxes is by avoiding Probate.
Good probate attorneys can help facilitate resolutions and avoid more fighting down the road.
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