Probate is the legal process of settling your estate after you pass away. The process can be lengthy and expensive for your loved ones, but there are ways to avoid it. Work with an estate planning attorney to sift through common will-writing issues that may lead to probate.

How Estate Planning Attorneys Help Avoid Probate

Naming Beneficiaries on Financial Accounts

If you have assets including bank accounts, retirement and pension funds, insurance policies, or stocks and bonds, you can name individuals as beneficiaries. Once you’ve made the designations, the assets are transferred to them automatically when you pass away, instead of going through probate as part of your estate.

Owning Real Estate Jointly

If you purchase or own real estate, you can hold title to it with one or more individuals as joint owners with the right of survivorship. If you own property in this form, when you pass away, the property belongs to the remaining named owners without probate. When the final owner passes away, the property goes to their heirs or beneficiaries. Ensure deeds are drawn and recorded properly.

Creating a Living Trust

A living trust allows you to place your assets in a fund that you or another trustee manages for the beneficiaries you name. The property passes in the trust when you create it, and when you pass away, the property belongs to the beneficiaries without probate. 

Avoiding probate can save time and money for your loved ones. The estate planning attorneys at Rutherford Law Office help individuals obtain peace of mind by using a variety of customized legal options for distributing assets outside of probate. Based in Chillicothe, OH, this locally owned and operated firm has a 20-year record of serving families throughout Ross County with wills, trusts, and probate matters. Schedule your confidential consultation with an estate planning attorney now. Call (740) 775-7434 to schedule an appointment, and visit their website to learn more about their attorneys.