How to Avoid Probate
Most people attempt to avoid probating for the convenience of the estate executor and because the cases can be costly or drag on for at least a year. Here are some tips on how to avoid probate:
- If you have a joint tenancy with your spouse the assets will automatically stay with them.
- Having a Last Will reduces the need for probating because the beneficiaries can be named within a bank or retirement account that is payable upon death.
- A Revocable Living Trust avoids the probate process by distributing the assets to the trustee.
- Reduce the size of your estate with gifts.
