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 Mar Lin, PA

How to Secure Your Assets and Avoid Probate in Mar Lin, 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 Mar Lin, PA
Grady David A
12 N 3rd St
Reynoldsville, PA 15851
(814) 653-8553
General Practice Attorneys, Attorneys
Young Paul
328 W Broad St # 4
Quakertown, PA 18951
(215) 538-8383
Social Security & Disability Law Attorneys,  Attorneys,  Criminal Law Attorneys,  General Practice A
Bucks County Bankruptcy Center
328 W Broad St Ste 2
Quakertown, PA 18951
(215) 538-8383
Bankruptcy Law Attorneys,  Attorneys,  Financial Planning Consultants,  Management Consultants,  Leg
Lehman & Kasubick
611 Brisbin St
Houtzdale, PA 16651
(814) 378-7840
General Practice Attorneys, Attorneys
Angelo Law Offices
585 S West End Blvd
Quakertown, PA 18951
(610) 367-7775
Attorneys, General Practice Attorneys, Legal Service Plans
Ashby Law Offices, LLC
246 W Broad St
Quakertown, PA 18951
(215) 536-7606
Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Estate Planning, Probate, & Living Trusts,
Angelo Law Offices
1534 W Broad St
Quakertown, PA 18951
(215) 538-7333
Civil Litigation & Trial Law Attorneys, Attorneys, General Practice Attorneys, Criminal Law Attorney
Angelo Law Offices
1538 W Broad St
Quakertown, PA 18951
(215) 538-7333
Insurance Attorneys, Attorneys, Criminal Law Attorneys, Personal Injury Law Attorneys, Legal Service
Lengert Kim L
15A N Robeson St
Robesonia, PA 19551
(484) 638-6538
Divorce Attorneys, Family Law Attorneys, Attorneys
Williams III Alan D
1007 W Broad St
Quakertown, PA 18951
(215) 536-6512
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Probate Law Attorneys,  Accident & Prope
Schildt James M
1007 W Broad St
Quakertown, PA 18951
(215) 536-6512
Attorneys, Criminal Law Attorneys, Family Law Attorneys, Probate Law Attorneys, Accident & Property
Donovan Robert M Attorney
1007 W Broad St
Quakertown, PA 18951
(215) 536-6512
General Practice Attorneys, Attorneys, Legal Service Plans
Cole & Varano
110 S Oak St
Mount Carmel, PA 17851
(570) 339-5870
Attorneys, Legal Service Plans
Fioravanti & Knight
245 W Broad St Ste 2
Quakertown, PA 18951
(215) 538-5577
Criminal Law Attorneys, Traffic Law Attorneys, Attorneys
Froelich J
116 E Penn Ave
Robesonia, PA 19551
(610) 693-5520
Attorneys,  Social Security & Disability Law Attorneys,  Accident & Property Damage Attorneys,  Will
A Applebaum & Assoc
328 W Broad St # 2
Quakertown, PA 18951
(215) 529-5500
Attorneys,  Family Law Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorn
Lipka David R
50 E Main St
Plymouth, PA 18651
(570) 779-5353
Elder Law Attorneys, Attorneys
Linton Distasio Adams & Kauffman PC
639 W Penn Ave
Robesonia, PA 19551
(610) 693-5200
Tax Attorneys,  Attorneys,  Legal Service Plans,  Wills, Trusts & Estate Planning Attorneys,  Gener
Federal Hearings & Appeals Svc
117 W Main St
Plymouth, PA 18651
(570) 779-5122
Mon. - Fri. 9am - 5pm, Sat. - Sun. CLOSED
Midkiff David
1202 W Broad St
Quakertown, PA 18951
(215) 536-4887
Attorneys,  Accountants-Certified Public,  General Practice Attorneys,  Tax Return Preparation
Goodman & Kenneff Attorneys Atty
246 Manor Ave Ste B
Millersville, PA 17551
(717) 872-4605
General Practice Attorneys, Attorneys, Legal Service Plans
Kokiko Christopher G
1239 W Broad St
Quakertown, PA 18951
(215) 536-4516
Arbitration Services, Attorneys, Mediation Services
Hamilton Jr John R
1435 Mayflower Dr
Quakertown, PA 18951
(215) 536-3649
Wills, Trusts & Estate Planning Attorneys, Attorneys, Family Law Attorneys, Legal Service Plans
News Sandra
7400 Haverford Ave
Philadelphia, PA 19151
(215) 878-3614
Probate Law Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US