Probate court proceedings after a death can drag on for a year and cost tens of thousands of dollars in attorney and court fees―money that would otherwise have gone directly to your loved ones.
Here are easy, effective ways to skip the probate process:
- name payable-on-death beneficiaries for financial accounts
- own property jointly
- leave real estate with transfer-on-death deeds
- use a living trust
- name the right beneficiaries for IRAs, 401(k)s, and other retirement plans, and
- use probate shortcuts for small estates.
Completely updated, this edition includes the latest state laws on probate avoidance methods, such as transfer-on-death deeds. The book also covers current estate and gift tax rules under the Tax Cuts and Jobs Act of 2017.