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 67401

How to Secure Your Assets and Avoid Probate in Zip Code 67401


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 KS 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 KS 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 67401
Achterberg & Angell
110 S 7th St
Salina, KS 67401
(785) 820-9400
Attorneys,  Adoption Services,  Accident & Property Damage Attorneys,  Personal Injury Law Attorneys
Diederich, Daniel K
122 N Santa Fe Ave Suite B
Salina, KS 67401
(785) 826-9250
Attorneys,  Business Law Attorneys,  Real Estate Attorneys,  Estate Planning Attorneys,  Wills, Tru
Davidson Law Office
204 S. Santa Fe, Ste. 5
Salina, KS 67401
(785) 452-9242
Criminal Law Attorneys, Attorneys
German Robert G
120 S 7th St
Salina, KS 67401
(785) 825-9175
Attorneys,  Family Law Attorneys,  General Practice Attorneys,  Bankruptcy Services,  Divorce Assist
Eric W. Marshall
1901 E. Iron Ave.
Salina, KS 67401
(785) 577-9101
Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Real Estate Attorneys,  Tax Return Preparat
Black, Karen
2035 E Iron P.O. Box 316
Salina, KS 67401
(785) 825-8261
Attorneys, Divorce Assistance
Lorson William R
114 E Iron Ave
Salina, KS 67401
(785) 825-8236
Attorneys, DUI & DWI Attorneys, Criminal Law Attorneys
Denning Gary D
119 W Iron Ave # 700
Salina, KS 67401
(785) 825-8224
Attorneys
Kansas Legal Svc
1000 Westchester DR
Salina, KS 67401
(785) 825-8147
Arbitration Services, Attorneys, Mediation Services
Shaffer Philip Atty
1012 Millwood Dr
Salina, KS 67401
(785) 823-8019
Attorneys, General Practice Attorneys
Steininger Conni M
3277 S Crest Ln
Salina, KS 67401
(785) 823-7979
Attorneys
Neustrom And Associates
118 S 7th St
Salina, KS 67401
(785) 825-7529
Accident & Property Damage Attorneys,  Attorneys,  Personal Injury Law Attorneys,  Wrongful Death At
Berg Nathanael W
119 W Iron Ave
Salina, KS 67401
(785) 827-7251
Attorneys, Legal Service Plans
Hampton & Royce
119 W Iron Ave, 9th and 10th Floors
Salina, KS 67401
(785) 827-7251
Wills, Trusts & Estate Planning Attorneys,  Real Estate Attorneys,  Personal Injury Law Attorneys,
Davidson Todd W
119 W Iron Ave
Salina, KS 67401
(785) 827-7251
Attorneys
Morrical Tisha S
119 W Iron Ave # 1000
Salina, KS 67401
(785) 827-7251
Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
Nelson C Stanley
119 W Iron Ave # 1000
Salina, KS 67401
(785) 827-7251
Attorneys, Legal Service Plans
Rider Danielle A
119 W Iron Ave
Salina, KS 67401
(785) 827-7251
Attorneys, Legal Service Plans
Diederich Daniel K
6 Crestview Dr
Salina, KS 67401
(785) 827-6650
Attorneys
Magana Craft PA
110 W Walnut St
Salina, KS 67401
(785) 823-6600
Attorneys, Legal Service Plans
Richard A. Buck LLC
217 W Ash St
Salina, KS 67401
(785) 404-6355
Attorneys, General Practice Attorneys, Legal Service Plans
Clark Mize & Linville Chartered
129 S 8th St
Salina, KS 67401
(785) 823-6325
Corporation & Partnership Law Attorneys,  Attorneys,  Labor & Employment Law Attorneys,  Real Estate
Johnston Peter S
129 S 8th St
Salina, KS 67401
(785) 823-6325
Attorneys, Legal Service Plans
Howard Joshua C
129 S 8th St
Salina, KS 67401
(785) 823-6325
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US