12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

How to Secure Your Assets and Avoid Probate in Zip Code 96161

How to Secure Your Assets and Avoid Probate in Zip Code 96161


Put not your trust in money, but put your money in trust.
 
- Oliver Wendell Holmes


Probate can tie up property for months, sometimes more than a year. And, it can be expensive - attorney and court fees can eat up to 5% of an estate's value. Most of what happens during probate is essentially clerical - legal research, drafting and clerical processes.

Probate involves inventorying and appraising the property, paying debts and taxes, and distributing the remainder of the property according to the will. The probate attorney fills in forms and keeps track of filing deadlines and other procedural technicalities.
All of this expense and delay can be avoided with estate planning.

A Living Trust is just one of the many ways to avoid this court proceeding after your death and spare the surviving family the hassle and possible conflict when it comes to their inheritance. In addition to a living trust, you can choose other methods that are probate free. The best estate planning approach for you and your family depends upon your unique condition.

Estate Planning to Avoid Probate

Revocable Living Trust

A revocable living trust is a document similar to a will. It specifies your assets and who you want to inherit various assets. It is a probate free way of ensuring that there will be clarity and minimal strife amongst your heirs. Essentially, you place your assets into a trust. After you pass away, your surviving family members can transfer your property quickly and easily, without probate. More of the property you leave goes to the people you want to inherit it.

Bank Accounts that are Payable-on-Death (POD)

Bank and retirement accounts can be converted to payable-on-death (POD) accounts. This can be done by filling out a simple form naming your beneficiaries. No more probate proceedings, the money will go directly to your POD beneficiaries with your bank or financial services provider. The same can be done for securities and vehicle registrations and in some states, real estate, as well. Upon you death, all these assets automatically transfer to your POD beneficiary without going through probate.

You can avoid probate by owning property as follows:

1. Joint tenancy with right of survivorship. A surviving owner of a joint tenancy automatically inherits the property of the one who passes away without undergoing probate.

2. Tenancy by the entirety. This is similar to joint tenancy but can only be applied to married couples or registered same sex partners. It is also probate-free.

3. Community property with right to survivorship. Refers to properties located in different states that is co-owned by married couples. If one partner dies, the surviving part automatically owns the assets.

Gifts

Probate can also be avoided by giving away your property while you are still alive. If you no longer own the asset when you die, it won't go through probate. Most gifts are also not subject to federal gift tax.
 
Personalize & Print a Free CA Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free CA Living Trust Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Related Legal Services near Zip Code 96161
Downing John G Attorney
10069 W River St # C6
Truckee, CA 96161
(530) 582-9182
Attorneys,  Bankruptcy Services,  Legal Service Plans,  Bankruptcy Law Attorneys
Robert V Cohune
10116 Jibboom St
Truckee, CA 96161
(530) 582-9094
Attorneys
Yvette Durant Law Office
10037 E River St
Truckee, CA 96161
(530) 582-8585
Divorce Attorneys, Mediation Services
Lasser Law Office
13201 Hansel Avenue
Truckee, CA 96161
(415) 261-8519
Business Litigation Attorneys, Civil Litigation & Trial Law Attorneys, DUI & DWI Attorneys, General
Truckee Tax Pros
11429 Donner Pass Rd
Truckee, CA 96161
(530) 587-7760
Legal Document Assistance,  Attorneys,  Paralegals,  Bankruptcy Law Attorneys
Collinson Brent
9709 State Route 267
Truckee, CA 96161
(530) 413-7739
Attorneys,  Estate Planning, Probate, & Living Trusts,  Construction Law Attorneys,  Real Estate A
Close Associates Law & Real Estate
12954 Sierra Dr E
Truckee, CA 96161
(530) 587-7666
Bankruptcy Services,  Attorneys,  Legal Service Plans,  Bankruptcy Law Attorneys
Robert F. French
12242 Business Park Dr Suite 12
Truckee, CA 96161
(530) 587-5500
General Practice Attorneys,  Probate Law Attorneys,  Estate Planning Attorneys,  Attorneys,  Civil L
Laub & Laub Law Offices
10382 Donner Pass Rd
Truckee, CA 96161
(530) 587-5282
Insurance Attorneys,  Attorneys,  Criminal Law Attorneys,  Personal Injury Law Attorneys,  Accident
A. Morgan Jones
12313 Soaring Way
Truckee, CA 96161
(530) 587-4664
Civil Litigation & Trial Law Attorneys
Jennifer M. Schaller
10344 Donner Pass Rd, Ste 4
Truckee, CA 96161
(530) 582-4595
Child Custody Attorneys, Divorce Attorneys, Family Law Attorneys, Attorneys
Brent P Collinson Law Office
9709 State Route 267 # A
Truckee, CA 96161
(530) 645-2766
Insurance Attorneys,  Attorneys,  Criminal Law Attorneys,  Business Law Attorneys,  Legal Service Pl
Van Dyke Law Group
12277 Soaring Way # 206
Truckee, CA 96161
(530) 587-2130
Litigation & Tort Attorneys, Attorneys
Porter, Simon
40200 Truckee Airport Rd
Truckee, CA 96161
(530) 587-2002
Attorneys,  Business Law Attorneys,  Personal Injury Law Attorneys,  Real Estate Attorneys,  Wills,
Sierra Monitoring Services
11260 Donner Pass Rd C1 #150
Truckee, CA 96161
(530) 582-1377
Attorneys, Criminal Law Attorneys
Graham Michael
10343 High St
Truckee, CA 96161
(530) 587-1177
Attorneys, Business Law Attorneys, Estate Planning Attorneys, General Practice Attorneys, Legal Serv
The Andrews Law Firm
10343 High St
Truckee, CA 96161
(530) 214-0362
Attorneys, Estate Planning Attorneys, Wills, Trusts & Estate Planning Attorneys
Osborne Craig
15695 Donner Pass Rd
Truckee, CA 96161
(530) 582-0216
Attorneys, Criminal Law Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US