Estate / Determine Probate Type / Review Ways to Avoid Probate
Review Ways to Avoid Probate
Filing with a Probate Court is typically most often be required to settle an Estate.
However, in some circumstances, parts of the Probate process can be avoided; sometimes the full process may be entirely unnecessary.
Avoiding Probate may be preferred because:
The following situations allow a surviving family and Beneficiaries to avoid Probate:
Probate can be a challenging legal process and so a Probate Attorney or Estate Attorney is typically hired, though not technically required by law.
See the links below for more information about local state laws and Probate Attorneys for hire.
However, in some circumstances, parts of the Probate process can be avoided; sometimes the full process may be entirely unnecessary.
Avoiding Probate may be preferred because:
- It can be slow -- the process can sometimes take many months or over a year, especially if the Estate is complicated or contested
- It can be costly -- many required expenses including, but not limited to, an attorney, the court, an Executor, or an Appraiser can add up
- It's public -- because it is a legal proceeding, all its information will be in the public record
The following situations allow a surviving family and Beneficiaries to avoid Probate:
- "Small" Estate -- if the Estate is "small" then it may be exempted by state law; the definition of "small" can differ drastically by state, so review local laws to determine if applicable
- Trusts -- if the deceased held certain Assets in a Trust, then they are not part of the Estate and not subject to Probate; however, if the deceased had a Living Trust, then Probate may still be needed, so review its details for more information
- Accounts Payable Upon Death -- financial accounts designated as Payable on Death or Transfer On Death (TOD) pass directly to Beneficiaries without going through Probate
- Joint Property Ownership -- if the deceased held property jointly with another person, then it may be transferred without needing court review; check the details of the deceased's property for final determination
Probate can be a challenging legal process and so a Probate Attorney or Estate Attorney is typically hired, though not technically required by law.
See the links below for more information about local state laws and Probate Attorneys for hire.