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 Lucinda, PA

How to Secure Your Assets and Avoid Probate in Lucinda, 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 Lucinda, PA
Voltz Hudson
110 Hopewell Rd Ste 200
Downingtown, PA 19335
(610) 518-9500
Accident & Property Damage Attorneys,  Attorneys,  Family Law Attorneys,  Personal Injury Law Attorn
Terence P. Ruf, Jr.
P.O. Box 185
Downingtown, PA 19335
(484) 786-9203
Criminal Law Attorneys,  DUI & DWI Attorneys,  General Practice Attorneys,  Personal Injury Law Atto
Anthony L Rosner
989 5th Ave
East Mc Keesport, PA 15035
(412) 829-9010
General Practice Attorneys, Attorneys
Rowden J Wesley
310 Chestnut St Ste 225
Meadville, PA 16335
(814) 333-9000
Attorneys,  Bankruptcy Law Attorneys,  Criminal Law Attorneys,  Traffic Law Attorneys,  DUI & DWI At
De Vore Bernadette
918 Diamond Park
Meadville, PA 16335
(814) 337-8974
Family Law Attorneys, Attorneys, Legal Service Plans
Woods Baker & Ross
67 Fraley St Ste A
Kane, PA 16735
(814) 837-8720
Attorneys, General Practice Attorneys
Grudowski & Thompson PC
400 Penn Center Blvd # 306
Pittsburgh, PA 15235
(412) 823-8080
Bankruptcy Law Attorneys, Attorneys
IKOR of Western Pennsylvania
201 Penn Center Blvd Suite 400
Pittsburgh, PA 15235
(855) 456-7972
Disability Services, Financial Services, Geriatric Consulting & Services, Elder Law Attorneys, Guard
Attorney Brode
334 North St
Meadville, PA 16335
(814) 337-7883
Social Security & Disability Law Attorneys, Attorneys, Family Law Attorneys, Immigration Law Attorne
Rapa Law Office PC
141 S 1st St
Lehighton, PA 18235
(610) 377-7730
Consumer Law Attorneys,  Attorneys,  Bankruptcy Law Attorneys,  Bankruptcy Services
Blystone & Blystone Attys
369 E Center St
Meadville, PA 16335
(814) 724-7534
Attorneys, General Practice Attorneys, Legal Service Plans, Family Law Attorneys, Divorce Attorneys,
Luttenauer Dennis
2 Greeves St # A
Kane, PA 16735
(814) 837-7190
General Practice Attorneys, Attorneys, Legal Service Plans
Youngs Christopher J Atty
363 Chestnut St
Meadville, PA 16335
(814) 337-7000
Attorneys,  Social Security & Disability Law Attorneys,  Accident & Property Damage Attorneys,  Will
Youngs, Lisa P - Pepicelli Youngs & Youngs
363 Chestnut St
Meadville, PA 16335
(814) 337-7000
Estate Planning Attorneys, Attorneys, Business Law Attorneys, Real Estate Attorneys
Lindsay & Hatheway
311 Walnut St
Meadville, PA 16335
(814) 333-6771
Attorneys,  General Practice Attorneys,  Family Law Attorneys,  Divorce Attorneys
Michael J. Hanson
201 Penn Center Blvd 400
Pittsburgh, PA 15235
(412) 589-6200
Elder Law Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Arbitration & Mediation Attorneys
Bankruptcy Services Attorney
7102 Frankford Ave
Philadelphia, PA 19135
(215) 331-6060
Attorneys
Spadafore Emil M Jr Atty
935 Market St
Meadville, PA 16335
(814) 332-6000
Divorce Attorneys, Family Law Attorneys, Wills, Trusts & Estate Planning Attorneys, Real Estate Atto
Thomas, Spadafore and Walker LLP
935 Market St
Meadville, PA 16335
(814) 332-6000
Wills, Trusts & Estate Planning Attorneys,  Attorneys,  Family Law Attorneys,  Divorce Attorneys,  
William G Schwab & Assoc
811 Blakeslee Boulevard Dr E
Lehighton, PA 18235
(610) 377-5200
Accident & Property Damage Attorneys,  Attorneys,  Legal Service Plans,  Bankruptcy Law Attorneys,  
Bartifay Law Offices PC
201 Penn Center Blvd Ste 400
Pittsburgh, PA 15235
(412) 825-5113
General Practice Attorneys,  Attorneys,  Legal Service Plans,  Bankruptcy Law Attorneys
Margolis Edelstein
1798 Plank Rd
Duncansville, PA 16635
(814) 695-5064
General Practice Attorneys, Attorneys, Workers Compensation & Disability Insurance
Carbon County Bar Assn
811 Blakeslee Boulevard Dr E
Lehighton, PA 18235
(610) 379-4950
Attorneys Referral & Information Service, Attorneys, Legal Service Plans
Lavelle Marianne S Attorney
400 Beaver Run Rd
Lehighton, PA 18235
(610) 377-4928
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US