Estate Planning FAQ: Can Probate Be Avoided?

1
ESTATE PLANNING FAQ
Can Probate Be Avoided?
2
1
Last Wills Probate
3
The most commonly utilized vehicle of asset
transfer in the field of estate planning is the
LAST WILL
4
It can seem as though this is the simplest way to
transfer assets
5
However, when you use a will the process of
probate is a factor
6
2
What Is Probate?
7
Probate is a legal process
8
The executor of the estate admits the will to
probate
9
The probate court supervises the administration
of the estate
10
The heirs to the estate don't receive their
inheritances until the estate HAS BEEN PROBATED
11
3
How Long Does It Take?
12
Probate does not run its course overnight.
13
The exact duration of probate will vary depending
on the complexity of the case
14
Simple cases will take months
15
Simple cases will take months
Complicated cases can take years
16
4
Is Probate Free?
17
Probate comes with some significant costs in many
cases
18
There are court costs, attorney fees, accounting
charges, appraisal expenses, and executor fees
19
These can add up to consume a noticeable
percentage of the estate
20
5
Is It Possible to Avoid Probate?
21
PROBATE CAN BE AVOIDED if you take the
appropriate steps in advance
22
There are a number of different probate avoidance
strategies that can be implemented
23
The optimal course of action will depend on the
circumstances
24
6
What Probate Avoidance Strategy Is Widely
Recommended?
25
The most effective probate avoidance strategy for
many people will be the creation of a REVOCABLE
LIVING TRUST
26
With these trusts you don't surrender control of
the assets while you are living
27
After you pass away, the beneficiaries receive
distributions from the trust OUTSIDE OF PROBATE
28
San Jose CA Probate Avoidance Consultation
29
If you would like to discuss probate avoidance
with a local San Jose CA estate planning lawyer
contact our firm at [phone] TO REQUEST A
FREE CONSULTATION
30
Click to visit www.attorneyoffice.com