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 Gilberton, PA

How to Secure Your Assets and Avoid Probate in Gilberton, PA


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 Gilberton, PA
Malski-Pezak Theresa
907 Church St
Jessup, PA 18434
(570) 383-9566
Attorneys, Family Law Attorneys, Legal Service Plans
Pride Law
957 Castle Shannon Blvd Floor 1
Pittsburgh, PA 15234
(866) 729-9163
Mediation Services,  Child Custody Attorneys,  Divorce Attorneys,  Family Law Attorneys,  Attorneys
Bubba Joseph A
4001 Schoolhouse Ln
Center Valley, PA 18034
(610) 797-9000
Attorneys, General Practice Attorneys
Nesfeder Michael R
4001 Schoolhouse Ln
Center Valley, PA 18034
(610) 797-9000
Attorneys,  Civil Litigation & Trial Law Attorneys,  Personal Injury Law Attorneys,  Insurance Attor
Richmond Mills LP
3233 Amber St
Philadelphia, PA 19134
(215) 425-8900
Attorneys, Legal Service Plans
White & Williams LLP
3701 Corporate Pkwy Ste 300
Center Valley, PA 18034
(610) 435-8414
Administrative & Governmental Law Attorneys, Attorneys, Legal Service Plans
Colleen Butcher
3754 Willow Ave
Pittsburgh, PA 15234
(412) 892-8302
Attorneys
Good & Harris LLP
132 W Main
Intercourse, PA 17534
(717) 768-8300
Probate Law Attorneys, Attorneys, Wills, Trusts & Estate Planning Attorneys
New Leaf Mediation Group
500 Office Center Dr
Fort Washington, PA 19034
(877) 346-8092
Child Custody Attorneys,  Divorce Attorneys,  Family Law Attorneys,  General Practice Attorneys,  Ar
Kendall Peter W
426 Pennsylvania Ave # 215
Fort Washington, PA 19034
(215) 643-7780
Attorneys, General Practice Attorneys
J F Morris
300 Mount Lebanon Blvd
Pittsburgh, PA 15234
(412) 563-7678
Attorneys, Legal Service Plans
Ross Glenn M
566 S Bethlehem Pike
Fort Washington, PA 19034
(215) 643-7200
Attorneys, Legal Service Plans
Starfield & Smith
1300 Virginia Dr # 325
Fort Washington, PA 19034
(215) 542-7070
Personal Injury Law Attorneys, Attorneys, Legal Service Plans
Byler Goodley & Winkle PC
7 Center
Intercourse, PA 17534
(717) 768-7010
General Practice Attorneys, Attorneys, Legal Service Plans
Clarke Andrea W
713 E Allegheny Ave
Philadelphia, PA 19134
(215) 423-6291
General Practice Attorneys, Attorneys, Legal Service Plans
Frayer Law Offices
250 Mount Lebanon Blvd # 207
Pittsburgh, PA 15234
(412) 571-6206
Estate Planning, Probate, & Living Trusts, Elder Law Attorneys, Estate Planning Attorneys, Probate L
Karen Ann Ulmer, P.C.
7237 Hollywood Rd
Fort Washington, PA 19034
(215) 752-6200
Estate Planning Attorneys, Attorneys, Family Law Attorneys, Divorce Attorneys, Wills, Trusts & Estat
McKay & Associates, P.C.
3755 Library Rd Suite 301
Pittsburgh, PA 15234
(412) 344-6110
Patent, Trademark & Copyright Law Attorneys,  Bankruptcy Law Attorneys,  Attorneys,  Personal Prope
Keddie Robert B
250 Mount Lebanon Blvd # 309
Pittsburgh, PA 15234
(412) 563-6100
General Practice Attorneys, Attorneys, Legal Service Plans
Weiman and Weiman
3312 Kensington Ave
Philadelphia, PA 19134
(215) 739-6080
Attorneys, Legal Service Plans, Real Estate Buyer Brokers
Jacquette James M
400 Maryland Dr
Fort Washington, PA 19034
(215) 646-6000
General Practice Attorneys, Attorneys
Dayno Karen S Atty
400 Maryland Dr
Fort Washington, PA 19034
(610) 646-6000
General Practice Attorneys, Attorneys
Mcaneny John J
400 Maryland Dr
Fort Washington, PA 19034
(215) 646-6000
General Practice Attorneys, Attorneys
Peale Michael O'Hara Jr
400 Maryland Dr
Fort Washington, PA 19034
(215) 646-6000
General Practice Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US