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 Benedict, NE

How to Secure Your Assets and Avoid Probate in Benedict, NE


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 NE 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 NE 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 Benedict, NE
Wenzl Law
2935 Pine Lake Rd # D
Lincoln, NE 68516
(402) 421-8686
Attorneys, Family Law Attorneys, Juvenile Law Attorneys
Napolitano Susan M Atty
5631 S 48th St Ste 220
Lincoln, NE 68516
(402) 328-8100
Attorneys
Barrows Bradley E Attorney
5631 S 48th St Ste 220
Lincoln, NE 68516
(402) 328-8100
Attorneys
Ritta Andrew
5631 S 48th St # 220
Lincoln, NE 68516
(402) 328-8100
Attorneys, Legal Service Plans
The Hoppe Law Firm LLC
5631 S 48th St Suite 220
Lincoln, NE 68516
(402) 328-8100
Attorneys, Real Estate Attorneys, Estate Planning Attorneys
Stephenson Brent
5640 S 84th St # 100
Lincoln, NE 68516
(402) 483-7711
Attorneys, General Practice Attorneys
Jeffrey Hahn Hemmerling & Zimmerman PC LLO
5640 S 84th St Ste 100
Lincoln, NE 68516
(402) 483-7711
Corporation & Partnership Law Attorneys,  Attorneys,  Wills, Trusts & Estate Planning Attorneys,  G
Hemmerling Barry L
5640 S 84th St # 100
Lincoln, NE 68516
(402) 483-7711
Attorneys
Mulliner Todd
5640 S 84th St # 100
Lincoln, NE 68516
(402) 483-7711
Attorneys, General Practice Attorneys
Zimmerman Thomas E
5640 S 84th St # 100
Lincoln, NE 68516
(402) 483-7711
Attorneys
Evelyn N. Babcock, Attorney
3240 N 159th Ave
Omaha, NE 68116
(402) 964-7444
Attorneys, Adoption Services, Family Law Attorneys, Divorce Attorneys, Legal Service Plans
Lincoln Law
2935 Pine Lake Rd Suite F
Lincoln, NE 68516
(402) 438-6900
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Business Law Attorne
Heen Law Office
7803 N Shore Dr
Lincoln, NE 68516
(402) 483-6778
Attorneys, General Practice Attorneys
Wilson Tom F
6201 S 58th St Ste C
Lincoln, NE 68516
(402) 421-6360
Personal Injury Law Attorneys, Attorneys, Family Law Attorneys
Rogers Terry L
5561 S 48th St # 232D
Lincoln, NE 68516
(402) 434-5683
General Practice Attorneys, Attorneys
Douglas Paul L
3539 Cape Charles Rd E
Lincoln, NE 68516
(402) 466-5620
Attorneys
Nelson Joshua
5521 Shady Creek Ct # 4
Lincoln, NE 68516
(402) 420-5590
Attorneys
Olson Jr William E
6320 S 83rd St
Lincoln, NE 68516
(402) 489-5439
Attorneys
Dahlin, Dale D - Dale D Dahlin Law Offices
6201 S 58th St Ste C
Lincoln, NE 68516
(402) 423-4300
Litigation & Tort Attorneys,  Attorneys,  Personal Injury Law Attorneys,  Accident & Property Damage
Hahn John
5640 S 84th St # 100
Lincoln, NE 68516
(402) 362-4282
Attorneys, General Practice Attorneys
Mullin Shilee T
3610 N 163rd Plz
Omaha, NE 68116
(402) 333-4053
Attorneys
Schulte Conly J
3610 N 163rd Plz
Omaha, NE 68116
(402) 333-4053
Attorneys
Feller Law Office PC PC
409 Lambrecht St
Beemer, NE 68716
(402) 528-3835
Attorneys, General Practice Attorneys
Betterman W Patrick
3628 N 163rd Plz
Omaha, NE 68116
(402) 333-3334
General Practice Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US