Contact Walk-In Wills today for help with will and trust creation, probate, long-term care planning, and other essential estate planning needs.
When it comes to estate planning, probate is often considered a stress-inducing prospect. Probate is the process of proving a will is valid, locating assets, paying outstanding debts, and finally, providing assets to heirs.
Here at Walk-In Wills, we understand that people have lots of reservations about probate. However, you can rest assured that the process is not as intimidating as it seems. With a solid will and other estate planning tools, you can rest easy knowing that your loved ones will face minimal challenges when it comes to probate.
Most wills do end up going through probate, which highlights the importance of creating an accurate, comprehensive document. However, it’s possible to use certain estate planning tools to help minimize the effects of probate as much as possible:
Assets held within a trust do not pass through probate. Instead, they pass directly to beneficiaries upon your death based on the rules established by the trust. Trusts can be irrevocable, meaning they can’t easily be changed after they’re set up. Trusts can also be revocable, which provides the creator of the trust more control over the process.
When an asset is jointly owned, it does not need to be probated. For instance, having co-owners on a home means that the surviving owner will automatically inherit the property when the other owner dies. Co-ownership also means that both people retain control over the asset prior to the death of one of the owners.
Life insurance policies and retirement accounts come with beneficiary designation forms. Upon filling out these forms, you allow the proceeds of these policies and accounts to go directly to the beneficiaries you name. You can also determine how much of each asset should go to your beneficiaries.
Death deeds also avoid probate, as they allow an asset to pass directly to a beneficiary after you die. Unlike joint-ownership, death deeds do not provide any claim to an asset until the sole owner dies.
At Walk-In Wills, we take pride in the fact that we provide the same level of assistance as a high-end law firm at a cost people can afford. Additionally, we go above and beyond to ensure clients in Chandler, AZ experience a peaceful, stress-free process at our firm.
