Can i avoid probate with a will

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The last thing anyone wants to think about after a loved one passes away is probate, or the process of distributing the deceased's property.

Probate is the legal process for distributing your property after you die. Your estate executor or attorney typically initiates probate. During this process, a probate court validates your will, authorizes your executor to distribute your estate to your beneficiaries and pays any taxes your estate may owe.

If you have no will, a further administrative proceeding must be held to determine how your estate will be divided. In this case, the court will name an administrator for your estate, who then follows the probate judge's instructions on how to distribute your property.

Probate laws differ across the country, so it's important to be familiar with your state's mandates so your final wishes can be administered efficiently. For example, state laws vary on what happens if you die without a will.

Alaska, South Dakota and Tennessee allow residents to opt in to community property laws. Community property laws hold that both spouses equally own all property obtained during their marriage. In death, if you are married and have no children, the court will award your assets to your spouse.

In other situations, probate courts will determine how your estate will be distributed using state inheritance rules. In most cases, the estate distribution hierarchy begins with your spouse. If you're not married, your assets pass to other family members in a specific order, typically starting with your surviving children and then to other relatives based on their closeness to you. Although probate is often straightforward, many people want to avoid it. The reasons can vary, but there are some common complaints about the process:.

It can be slow. In some cases, it can take years for a probate court to finalize an estate, especially if it's complicated or involves a contested will. Learn the most popular ways of avoiding probate. Revocable Living Trust Living trusts were invented to let people make an end-run around probate. Pay-on-Death Accounts and Registrations You can convert your bank accounts and retirement accounts to payable-on-death accounts. Joint Ownership of Property Several forms of joint ownership provide a simple and easy way to avoid probate when the first owner dies.

You can avoid probate by owning property as follows: Joint tenancy with right of survivorship. Property owned in joint tenancy automatically passes, without probate, to the surviving owner s when one owner dies.

Tenancy by the entirety. In some states, married couples often take title not in joint tenancy, but in "tenancy by the entirety" instead. It's very similar to joint tenancy, but can be used only by married couples or in a few states, by same-sex partners who have registered with the state. Both avoid probate in exactly the same way. Community property with right of survivorship. If you are married or in California, if you have registered with the state as domestic partners and live or own property in Alaska, Arizona, California, Idaho, Nevada, Texas or Wisconsin, another way to co-own property with your spouse is available to you: community property with the right of survivorship.

If you hold property in this way, when one spouse dies, the other automatically owns the asset. To learn more, see Avoiding Probate with Joint Ownership. Gifts Giving away property while you're alive helps you avoid probate for a very simple reason: If you don't own it when you die, it doesn't have to go through probate. Simplified Procedures for Small Estates Almost every state now offers shortcuts through probate—or a way around it completely—for "small estates.

Talk to a Lawyer Need a lawyer? Start here. Practice Area Please select Items that have a Beneficiary named: Naming a Beneficiary on an asset means you can avoid probate. For example, life insurance policies have named Beneficiaries, so proceeds go directly to them without having to go through probate.

Items placed inside a Living Trust: Because a Trust owns the items inside it, when you pass away, anything in your Trust can go to your Beneficiaries as specified by the Trust, thus avoiding the probate process.

Note that some states do not allow real estate to be titled this way. There is no need for the property to go through probate in this case. How the process of probate plays out in court largely depends on whether or not you have a Will. The biggest difference is that when no Will is present, the court will appoint someone as a Personal Representative to oversee distribution of your belongings. In the absence of a Will, only the beginning of the probate process will differ.

Once a Personal Representative is appointed, the rest of the process will be the same. Someone, usually your Executor or lawyer, will inform the court of your death and submit a copy of the death certificate to start the probate process.

Your Will must be authenticated by the court to ensure it was properly signed and dated in accordance with the law. Once this is done, your Will is considered valid. In cases where a Will is present, a judge formally appoints the person you name as Executor only in very rare cases would the court overturn your choice. The Executor then oversees the process and settles your estate. If there is no Will, the court will appoint a Personal Representative for this role. Usually this would be your next of kin.

A Personal Representative acts exactly as an Executor would. Posting a bond protects Beneficiaries against potential errors an Executor or Personal Representative might make during the probate process. Bonds may be quite costly, but your estate will pay for it. Bonds are not always necessary, as some states will waive them if your Executor or Personal Representative is also a Beneficiary of your estate. You can also include a request to waive a bond in your Will. Trust and Will knows the probate process inside and out, and our legal experts have taken the time to ensure that you address everything you need to in one place.

This is likely the biggest task most Executors or Personal Representatives will undertake. It involves finding and informing any potential Beneficiaries and possible creditors of your passing. He or she will also need to communicate with creditors to settle your debts using money from your estate. Keep in mind that in cases where there is a Will, most, if not all, Beneficiaries will be named, so informing them is usually an easier task. Finding creditors can be more difficult and time-consuming, regardless of whether or not a Will is present.

It should make sense that both parts of this process become exponentially more difficult when there is no Will. To determine the value of an estate, an assessment must first be completed. This will account for everything you own at the time of your passing.

Sometimes, particularly in larger estates, a professional appraiser may be needed. This person understands the process of collecting and inventorying all real estate, personal and household items to assess their value. The total combined value is then used to estimate the value of your estate. Funeral expenses are typically paid from your estate. Once this is paid, the estate will fund the payments for medical expenses, filing and paying taxes and handling other unpaid debts you may owe at the time of your death.

This step needs careful attention, because there is potential for debtors to go after Beneficiaries in the future to recoup any unpaid debts. After all the debts have been paid, any remaining assets will be forwarded to the appropriate Beneficiaries.

The probate process can be lengthy and complicated, especially during a time of grief. If this is something you don't want to go through alone, consider getting help from the experts at EZ-Probate. They offer unparalleled support and guidance to simplify the probate process.

There are ways to limit the headaches that probate often causes loved ones. There can be several benefits to avoiding probate, including time, cost and privacy.