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 76906

How to Secure Your Assets and Avoid Probate in Zip Code 76906


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 TX 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 TX 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 76906
Otstott & Jamison Attorneys-At-Law
4849 Greenville Ave
Dallas, TX 75206
(214) 522-9999
Attorneys, General Practice Attorneys
The Dashner Law Firm
2000 E Lamar Blvd Ste 600
Arlington, TX 76006
(817) 864-9980
Corporation & Partnership Law Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Legal S
Schneider Law Firm, P.C.
2000 E Lamar Blvd Ste 600
Arlington, TX 76006
(817) 850-9955
Corporation & Partnership Law Attorneys, Attorneys, Family Law Attorneys, Labor & Employment Law Att
Murrah Melissa N
4305 Yoakum Blvd
Houston, TX 77006
(713) 861-9900
Attorneys
Murrah, Melissa A - Smith-Kelly Smith & Murrah
4305 Yoakum Blvd
Houston, TX 77006
(713) 861-9900
Attorneys, Criminal Law Attorneys, General Practice Attorneys, Legal Service Plans
Le June Law Office
3006 Brazos St
Houston, TX 77006
(713) 942-9898
Civil Litigation & Trial Law Attorneys, Attorneys, Labor & Employment Law Attorneys, Business Law At
Five-Star Professional Assistants
2450 Louisiana St., 400-141
Houston, TX 77006
(713) 859-9843
Paralegals, Secretarial Services, Human Resource Consultants, Employment Agencies, Employment Opport
Calllaway Cass-Law Office
6060 N Central Expy Ste 429
Dallas, TX 75206
(214) 360-9787
General Practice Attorneys, Attorneys, Legal Service Plans
The Wright Firm LLP
8150 N Central Expy Ste 775
Dallas, TX 75206
(214) 780-9696
Bankruptcy Law Attorneys, Attorneys, Criminal Law Attorneys
Cottrill, Parker & Associates
1925 E Belt Line Rd Suite 491
Carrollton, TX 75006
(972) 781-9669
Bankruptcy Law Attorneys, Legal Service Plans, Attorneys
DWI Lawyer Rick Weaver & Associates
4925 Greenville Ave Suite 200
Dallas, TX 75206
(214) 664-9600
Criminal Law Attorneys,  DUI & DWI Attorneys,  Personal Injury Law Attorneys,  Traffic Law Attorneys
Ricon Ramon
6060 N Central Expy Ste 538
Dallas, TX 75206
(214) 922-9600
Attorneys, Legal Service Plans
Ferguson Wallace T
302 E Blanco Rd
Boerne, TX 78006
(830) 249-9596
Criminal Law Attorneys, Family Law Attorneys, Divorce Attorneys, DUI & DWI Attorneys, Legal Service
Wallace T. Ferguson
302 E Blanco Rd
Boerne, TX 78006
(830) 249-9596
Attorneys, Legal Service Plans
Jeanne Caldwell McDowell
603 Avondale St
Houston, TX 77006
(713) 655-9595
Attorneys, Family Law Attorneys
McDowell John T
603 Avondale St
Houston, TX 77006
(713) 655-9595
Insurance Attorneys, Attorneys, Legal Service Plans
Dougherty, Judy K Dougherty & Dougherty
909 Kipling St
Houston, TX 77006
(713) 521-9551
Legal Service Plans, Arbitration Services, Attorneys
Barfield Law Firm Pc
4211 W Interstate 40 # 200
Amarillo, TX 79106
(806) 468-9500
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Personal Injury Law
Alvarez & Montes Law Offices
1100 Pasadena Blvd
Pasadena, TX 77506
(713) 472-9492
General Practice Attorneys, Attorneys, Legal Service Plans
Alvarez Frank
1100 Pasadena Blvd
Pasadena, TX 77506
(713) 472-9492
Attorneys, General Practice Attorneys, Legal Service Plans
Wortham Law Firm
5307 E Mockingbird Ln Suite 900
Dallas, TX 75206
(972) 445-9472
Attorneys,  Family Law Attorneys,  Arbitration Services,  Attorneys Referral & Information Service,
Montes Law Firm
408 Rivervalley Ct
Arlington, TX 76006
(817) 801-9400
General Practice Attorneys, Attorneys
Simple Surrogacy
4925 Greenville Ave Ste:200
Dallas, TX 75206
(214) 673-9321
Adoption Law Attorneys, Adoption Services
Manning Tammy
802 W Alabama St
Houston, TX 77006
(713) 522-9220
Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US