12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
Edit & Print a Free North Carolina Last Will & Testament
  • 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 28117

How to Secure Your Assets and Avoid Probate in Zip Code 28117


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 NC 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 NC 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 28117
The Lake Law Office
311 Williamson Rd Ste 103
Mooresville, NC 28117
(704) 799-7210
Traffic Law Attorneys, Attorneys, Real Estate Attorneys, Criminal Law Attorneys
Gourley & Griffin Pa Atty
219 Williamson Rd Ste 1101
Mooresville, NC 28117
(704) 663-7122
Bankruptcy Law Attorneys, Attorneys
Morris Bradley C
122 Gateway Blvd # 200
Mooresville, NC 28117
(704) 799-6662
Litigation & Tort Attorneys, Attorneys
Natalie J Miller PLLC
548 Williamson Rd Suite 2
Mooresville, NC 28117
(877) 801-6456
Attorneys,  Estate Planning, Probate, & Living Trusts,  Social Security & Disability Law Attorneys
Homesley Gaines & Dudley LLP
116 Morlake Dr Suite 103A
Mooresville, NC 28117
(704) 662-6072
Attorneys Referral & Information Service, Attorneys
Natalie J Miller PLLC
548 Williamson Rd
Mooresville, NC 28117
(704) 490-4702
Estate Planning, Probate, & Living Trusts, Social Security & Disability Law Attorneys, Civil Litigat
Lutzel Broadway & Assoc P
542 Williamson Rd Ste A
Mooresville, NC 28117
(704) 799-3570
Accident & Property Damage Attorneys, Personal Injury Law Attorneys, Attorneys
Cornerstone Capital Advisors
542 Williamson Rd Ste A
Mooresville, NC 28117
(704) 799-3570
Real Estate Attorneys, Attorneys
Blanco Tackabery & Matamoros PA
150 Fairview Rd
Mooresville, NC 28117
(704) 696-2160
Attorneys
Mills, Grey - Mills & Levine
109 Professional Park Dr # 200
Mooresville, NC 28117
(704) 660-1770
Attorneys, Criminal Law Attorneys, Labor & Employment Law Attorneys, Social Security & Disability La
Thomas Ben S Atty
514 Williamson Rd Ste 421
Mooresville, NC 28117
(704) 663-1600
Accident & Property Damage Attorneys, Attorneys, Family Law Attorneys, Corporation & Partnership Law
Thomas & Godley
514 Williamson Rd Ste 421
Mooresville, NC 28117
(704) 663-1600
Estate Planning Attorneys, Attorneys, Criminal Law Attorneys, Business Law Attorneys, Real Estate At
Jones Childers Mclurkin & Donaldson P
149 Welton Way
Mooresville, NC 28117
(704) 664-1127
Criminal Law Attorneys, Traffic Law Attorneys, Attorneys
Jones Childers Mc Lurkin
236 Raceway Dr Ste 7
Mooresville, NC 28117
(704) 664-1127
Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Criminal Law Attorneys,  Family Law Attorne
Mills And Levine
109 Professional Park Dr Suite 200
Mooresville, NC 28117
(888) 356-0795
Automobile Accident Attorneys
Barone Law Offices Pc
570 Williamson Rd Ste A
Mooresville, NC 28117
(704) 658-0592
Bankruptcy Law Attorneys, Attorneys, Family Law Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US