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How to Avoid ProbateBlog, Probate
Posted in on February 4, 2016
Many people think that by having a Will they are avoiding the time and expense that comes with the probate process. However, just because you have a Will you do not avoid probate. “Probate” is the process in which a personal representative can gather your assets and re-title them in the name of your heirs. Having a Will does not change the process, it can make the process easier and certainly faster but it does not eliminate the need to go through the probate process.
Clients often ask if there is a way to avoid probate, and the answer is yes. The only way to avoid the probate process is to eliminate your potential probate assets. A probate asset is any asset that is in your name solely as of your date of death. By titling the assets differently or by arranging for non-probate transfers at death during your lifetime, these assets can avoid the probate process.
Avoiding probate takes careful planning and forethought. If you would like to learn more about protecting your assets from the probate process contact our probate lawyers at Baker, Braverman & Barbadoro, P.C. today to discuss your estate planning needs.