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 17215

How to Secure Your Assets and Avoid Probate in Zip Code 17215


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 PA 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 PA 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 17215
Mannicci Lori L
7 W Morton St
Bethlehem, PA 18015
(610) 882-9600
Accident & Property Damage Attorneys, Attorneys, Social Security & Disability Law Attorneys
North Penn Legal Services
168 E 5th St
Bloomsburg, PA 17815
(570) 784-8760
Attorneys, Legal Service Plans
David B. Bross
1 E 3rd St
Coudersport, PA 16915
(814) 274-8612
Social Security & Disability Law Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Lega
Ross David
1 E 3rd St
Coudersport, PA 16915
(814) 274-8612
Attorneys,  Family Law Attorneys,  Commercial Law Attorneys,  General Practice Attorneys,  Legal Ser
Ross David B
1 E 3rd St
Coudersport, PA 16915
(814) 274-8612
Attorneys, Family Law Attorneys, Commercial Law Attorneys, General Practice Attorneys, Legal Service
James Susan Tetrick
29 E Main St
Bloomsburg, PA 17815
(570) 784-8300
Attorneys,  Social Security & Disability Law Attorneys,  Elder Law Attorneys,  Wills, Trusts & Esta
Stenhach Walter
28 E 2nd St
Coudersport, PA 16915
(814) 274-8170
Attorneys, Legal Service Plans
Knight & Assoc
11 Roadway Dr # B
Carlisle, PA 17015
(717) 795-8011
Attorneys, Legal Service Plans
Gay Chacker & Mittin, P.C.
1726 Welsh Rd Fl 1st
Philadelphia, PA 19115
(215) 567-7955
Accident & Property Damage Attorneys,  Attorneys,  Personal Injury Law Attorneys,  Legal Service Pla
Maina & Associates
212 Gray St
Brookhaven, PA 19015
(484) 821-7904
Immigration Law Attorneys, Attorneys
Derr Pursel Luschas & Naparsteck LLP
120 W Main St
Bloomsburg, PA 17815
(877) 596-7891
Estate Planning Attorneys,  Attorneys,  Family Law Attorneys,  Personal Injury Law Attorneys,  Accid
Voloshen Igor A
9630 Bustleton Ave # 2
Philadelphia, PA 19115
(215) 437-7854
General Practice Attorneys, Attorneys, Legal Service Plans
Bleasdale Law Office
101 Emerson Ave
Pittsburgh, PA 15215
(412) 726-7713
Divorce Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorneys
Kennedy & Lucadamo PC
18 Sherwood Dr
Bloomsburg, PA 17815
(570) 389-7620
General Practice Attorneys, Attorneys
Primerano Andrew J
18 Sherwood Dr
Bloomsburg, PA 17815
(570) 389-7620
General Practice Attorneys, Attorneys
Steinberg, Marc R Rubin Glickman Steinberg
2605 N Broad St
Colmar, PA 18915
(215) 822-7575
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Accident & Property Damage Attorneys,  P
Stern Amy R
2605 N Broad St
Colmar, PA 18915
(215) 822-7575
Attorneys, Legal Service Plans
Szostak, Robert T - Rubin Glickman Steinberg
2605 N Broad St
Colmar, PA 18915
(215) 822-7575
Attorneys, Criminal Law Attorneys, Family Law Attorneys, Accident & Property Damage Attorneys, Perso
Mihalik John A
3 E 5th St
Bloomsburg, PA 17815
(570) 784-7516
General Practice Attorneys, Attorneys
Glassmire Daniel F
5 E 3rd St
Coudersport, PA 16915
(814) 274-7292
General Practice Attorneys, Attorneys, Legal Service Plans
Amador Paralegal Services
107 E Elbon Rd
Brookhaven, PA 19015
(215) 439-7174
Paralegals
Hill P Jeffrey
38 W 3rd St
Bloomsburg, PA 17815
(570) 784-6770
Elder Law Attorneys, Attorneys, Real Estate Attorneys
Granovsky Law Offices
9831 Bustleton Ave # 2
Philadelphia, PA 19115
(215) 992-6695
General Practice Attorneys, Attorneys, Legal Service Plans
Krasno Krasno & Onwudinjo
29 E Main St
Bloomsburg, PA 17815
(570) 387-6613
Attorneys,  Labor & Employment Law Attorneys,  Social Security & Disability Law Attorneys,  Corporat
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US