Even if you have a will in place, your estate goes to probate court when you die so that all your property can be inventoried and appraised. It often takes months before your beneficiaries gain access to their inheritance. Luckily, these three ways can help you use probate law to your advantage and avoid the sorts of court proceedings and legal fees that can diminish the value of your estate.

How to Avoid Probate Court

1. Beneficiary Designations

One of the easiest ways to avoid probate is to designate an official recipient, or beneficiary, for your assets. Making a POD designation (payable-on-death) for bank accounts and a TOD designation (transfer-on-death) for property, allows recipients to access their inheritance automatically. The ability to use PODs and TODs depends on the state in which you live. For example, Georgia allows individuals to add PODs for banking accounts and TODs for stocks and bonds. 

2. Joint Ownership

In states where TOD registrations aren't allowed for real estate assets or other kinds of property, as in Georgia, joint ownership is an expedient solution. By adding a joint owner to the deed of home or to the title a vehicle, probate law permits the surviving joint owner to avoid court as long as the deed or title to the property specifies rights of survivorship. 

3. Revocable Living Trust

Joint ownership isn't always the best solution to transfer an estate to your beneficiaries, especially if you want to maintain total control over your assets. A living trust also allows your survivors to avoid the complexities of probate law. When you create a living trust, any property you transfer to the trust is part of the trust, not part of your estate—except for tax purposes. When you establish a living trust, you designate yourself as the trustee and appoint a successor to take over the trust upon your death.

If you want to avoid court proceedings after your death, turn to Adams, Ellard & Frankum P.C. in Clarksville, GA, to learn about your options. Serving all of northeastern Georgia, these trusted attorneys can advise you about wills, trusts, estate planning, and probate law. From choosing an estate administrator to drafting a living trust, they provide personalized service and best-in-class legal representation. Request a consultation today by contacting the team at (706) 754-2171.