Joint tenancy is another popular way to avoid probate, especially for married couples in the state of Florida. For married couples, it is known as tenancy by the entirety, and for property owned by couples (married or not) or a father and son, two friends, etc. it is called joint tenan...
When a person dies, probate proceedings—if any—occur in the state where the deceased person had a permanent residence. If the deceased person owned real estate in another state, there might need to be a probate proceeding in each state. Probate proceedings for property owned in a second (...
The main reason for having a TOD designation for real property is to limit or avoid probate. Ohio law states that the transfer of real property under a TOD is "not testamentary," which means that the property is an asset that transfers automatically to the beneficiaries when the owner dies....
The duties and powers of the personal representative begin with the grant of letters of administration, but the powers can relate back in time to prior acts that are beneficial to the estate. There will be things to do before the Florida probate process starts that the person named personal r...
How to file for divorce in FloridaThere’s a 30-day simplified divorce process for couples who agree on terms, do not have dependent children, and have no alimony involved. Otherwise, contact the local court clerk’s office for information on the state’s four types of divorce....
The personal representative appointed by the probate court is responsible for filing the petition for final accounting and distribution. The official name can vary, depending on the state. For example, in Florida it's called apetition for final discharge and accounting. ...
In states likeCaliforniaandFlorida, the spouses may use a quitclaim deed to transfer the property without warranting title. Other states—like Texas—recognize a similar type of deed called adeed without warranty. Whichever of these forms you use, the goal is usually to transfer property without ...
The former was the case forNancy Sanborn, areal estate agent in the LAarea with over 40 years of experience, when she was hired in 2016 to sell what she thought was a regular old probate listing in a wealthy LA neighborhood. The listing came as a referral and as she says, “I did ...
A joint-owned property can be held as ajoint tenancy. Two or more people have equal rights and obligations to the property they own together in this legal arrangement until one partner passes away. The deceased owner's interest passes to the survivors without probate at this time. It's ofte...
Title-holding trusts are used as a way for property owners to maintain anonymity and keep valuable assets out of probate. They can also provide a number of other estate-planning benefits andprotect assets from judgmentsor liens. This can be especially useful for the very wealthy, celebrities, ...