With or without a will, going to probate court is likely required to settle a decedent's affairs. However, there are ways to simplify the probate process prior to death, including creating a living trust, naming beneficiaries clearly on all investment, bank, and retirement accounts, and establi...
Your retirement accounts pass to beneficiaries without going through probate court; however, if you leave a retirement account to your estate, it may have to go through probate before the assets can be distributed. Probate Know the probate laws in your state. Investment accounts without a joint ...
Goes through probate, which can be a lengthy process Does not maintain privacy, as the will is public record Does not avoid estate taxes Assets are not protected from creditors Creating a living trust can be a part of your estate plan by helping you manage and distribute your assets and pro...
If there’s no will, the decedent is referred to as dying “intestate,” and their property will be distributed by an estate administrator according to their state’s succession laws. Whether you have a will or not, your estate will have to pass through probate unless all of your assets...
Because wills need to go through probate, the will itself becomes a matter of public record. Your will is usually the appropriate place to designate a guardian for any minor children. It's recommended that you still have a pour-over will to complement your living trust. A pour-over will ...
Because wills need to go through probate, the will itself becomes a matter of public record. Your will is usually the appropriate place to designate a guardian for any minor children. It's recommended that you still have a pour-over will to complement your living trust. A pour-over will ...
When a person dies, any cryptocurrency they owned is treated as an asset. Cryptocurrency goes through probate like other assets before going to beneficiaries. The cryptocurrency needs to be listed in the estate plan and can be passed on to named beneficiaries when the owner dies. ...
When one spouse dies, the ownership of the account passes to the surviving spouse, who can continue to access the funds without going through probate. A group of investors own a parcel of land together as joint tenants with survivorship rights. When one investor dies, their share of the ...
[00:12:49] The only way to avoid probate is to have a beneficiary designation on your account or have it passing through a trust somehow where it’s not going in your name. If you die with the asset in your name, with no co-owner, no beneficiary, you’re in probate whether you ...
A self-directed IRA is a retirement account that allows you to make various different investments and accure interest.