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Immediate vs. Deferred Annuities

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Is Not Avoiding Probate a Huge Mistake on Your Part?

March 5, 2018

When assets pass to others through a will, this means that your estate goes through the probate process. Probate can be very time consuming and expensive for your loved ones and since the details vary from one state to another, it’s important to be clear about the exact procedures that may apply if your estate ends up going through probate. how to avoid probate

Although many states have worked towards more streamlined and less expensive probate procedures, the costs and delays of the old probate process are likely to stay in place. This means that probate can be very disruptive to the management of your assets and add additional frustration for your loved ones.

This is particularly true when you own assets in more than one state, since your estate may have to go through probate in each of those individual states. Avoiding probate is a common goal for people who are putting together their estate plan because probate is a very public process. Anyone can review the probate court records to figure out how much your probate estate was worth, how you divided it and what you owned and owed.

Certain assets automatically avoid probate of law, including annuities, retirement accounts, and jointly owned property but other remaining property should be structured within a trust or other estate planning tool to ensure that it does not become a matter of public record.


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Schedule your free Exploratory phone call

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can be of assistance.

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listings and become a part of an amazing team.

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Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
Immediate vs. Deferred Annuities

Despite not being as well known as some other retirement tools, annuities account for 6.5% ...

See more
According to Young Investors, Progress Toward Goals Matters Most

Younger and older investors are likely to have different preferences in music, movies, and fashion. ...

See more
Guiding Your Aging Parents Through Life’s Next Chapter: A Strategic Overview

In today’s aging society, many families face the responsibility of caring for elderly parents. This ...

See more