12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
Edit & Print a Free Last Will & Testament for Zip Code 51401
  • Written by expert Attorneys
  • Guaranteed for your State
  • Personalized for your situation
  • Finish and print in minutes!

How to Secure Your Assets and Avoid Probate in Zip Code 51401

How to Secure Your Assets and Avoid Probate in Zip Code 51401


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.
 
Download & Print a Free IA Last Will Personalize This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Download & Print a Free IA Living Trust Personalize 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
  Answer Easy
Questions
answer simple questions online step by step
Easy Questions, Instant Documents
  • Finish in Minutes
  • Download Immediately
  • Written by Attorneys
  • 100% Guaranteed
  Get Instant Legal
    Documents

Print, save or email your finished legal document immediately!
Last Will & Testament
Related Legal Services near Zip Code 51401
Van Dyke James
225 E 7th St # 1
Carroll, IA 51401
(712) 792-9734
General Practice Attorneys, Attorneys, Legal Service Plans
Stone Path VI LLP
19391 150th St
Carroll, IA 51401
(712) 792-9313
Attorneys
Peters Robert W
1014 W 19th St
Carroll, IA 51401
(712) 792-9277
Attorneys, Legal Service Plans
Wunschel Dee Ann
805 N Main St # 2
Carroll, IA 51401
(712) 792-9241
Attorneys
Hall Law Office
815 N Main St
Carroll, IA 51401
(712) 792-7859
Attorneys, General Practice Attorneys, Legal Service Plans
Carroll County
225 E 7th St
Carroll, IA 51401
(712) 792-6092
General Practice Attorneys,  Attorneys,  County & Parish Government,  Justice Courts,  Administrativ
Neu Minnich Comito & Neu PC
721 N Main St
Carroll, IA 51401
(866) 549-5442
Attorneys, Probate Law Attorneys, Wills, Trusts & Estate Planning Attorneys
Robert Peterson
303 E 2nd St
Carroll, IA 51401
(712) 792-4485
Attorneys, General Practice Attorneys
Peterson Robert
303 E 2nd St
Carroll, IA 51401
(712) 792-4485
Attorneys, General Practice Attorneys
Neu A Eric
721 N Main St
Carroll, IA 51401
(712) 792-3508
Attorneys
Minnich Jeffrey R
721 N Main St
Carroll, IA 51401
(712) 792-3508
Attorneys
Comito Frank J
721 N Main St
Carroll, IA 51401
(712) 792-3508
Attorneys
Bruner David S
225 E 7th St # 2
Carroll, IA 51401
(712) 792-3480
Attorneys, General Practice Attorneys, Legal Service Plans
Eich, Van Dyke and Werden Law Firm PC
815 N Main St Ste 1
Carroll, IA 51401
(712) 792-3424
Attorneys, General Practice Attorneys, Legal Service Plans
Sibbel Martha
408 Highway 30 W
Carroll, IA 51401
(712) 775-2388
General Practice Attorneys, Attorneys, Legal Service Plans
Mayhall Julie G
801 N Adams St
Carroll, IA 51401
(712) 792-2200
General Practice Attorneys, Attorneys
Polking Christopher
225 E 7th St # 3
Carroll, IA 51401
(712) 792-1548
Attorneys, General Practice Attorneys, Legal Service Plans
Willson & Pechacek PLC
110 W 8th St
Carroll, IA 51401
(712) 792-0001
Attorneys, Legal Service Plans, Estate Planning Attorneys
Ryan M Brett
110 W 8th St
Carroll, IA 51401
(712) 792-0001
Attorneys
Rankin Lee M
110 W 8th St
Carroll, IA 51401
(712) 792-0001
Attorneys
Pechacek Jr Frank W
110 W 8th St
Carroll, IA 51401
(712) 792-0001
Attorneys
Green Bruce B
110 W 8th St
Carroll, IA 51401
(712) 792-0001
Attorneys
Kolln II Lonny L
110 W 8th St
Carroll, IA 51401
(712) 792-0001
Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US