How can I Prevent My Will From Going Through Probate?
Do you want to make sure your will does not go through probate in the aftermath of your death? When a will goes through probate, the court must decide who gets what. Although this may not sound ideal, there are ways to avoid probate altogether. You must take certain steps while you are still living to ensure that you have properly handled your estate and have made important decisions on who you would like to have as beneficiaries.
Add a Joint Owner to Everything You Own
If you know, love, and trust someone important in your life, such as your partner or adult child, you can add that person as a joint owner to everything you own. For example, you would add this person’s name to your bank account while making him or her co-owner of anything you own, such as your home, rental properties that are in your name, and any vehicles that belong to you.
When you have a joint owner and you pass away, probate is avoided because the joint owner will get to keep your belongings. If you are going to take this route, make sure to choose someone you can truly trust because you do not want to have problems with that person attempting to take your assets from you while you are still alive.
Have a Living Trust Created
No matter your age, you should consider having a living trust created with an attorney’s assistance. In the living trust, you can name the beneficiaries who will receive your assets. The beneficiaries are often the spouse, children, and other close relatives/friends of an individual. Choose these people wisely and remember that you can make changes to your trust before you pass away.
When you have a living trust and you have selected beneficiaries, it is easier to prove who will get what in the event of your untimely death. However, to fully ensure that your will does not go through the probate process, you should also list the name of the beneficiary on each asset. It makes the process much smoother.
After working hard for everything you have, the last thing you want is for the court to decide who will get to take ownership of your assets after you pass away. If you do not want your estate to go to probate, you can add a joint owner to your assets. If you do not feel comfortable with doing that, you can meet with an attorney and have your living trust created.
While discussing the details of your living trust, you could designate certain people to act as your beneficiaries and take over your assets when you are no longer around. An attorney can walk you through the steps that are involved when you are having a living trust created.
If you are ready to have a living trust created, get in touch with Giro Law. You can call us at 201-690-1642. We look forward to helping you create a trust that will protect your loved ones and prevent your will from going to probate.