Trust-Avoid Probate

What is a probate?

A probate is a legal process for how to distribute your assets after you die. During this process, a court must validate your Trust before authorizing your executor to distribute your estate. 

There are some reasons, though, to avoid probate. This process can be very slow and costly. It is also public since it is a state legal proceeding. 

How can you avoid probate? 

The smaller the estate, the faster the process. This isn’t always avoidable, of course. Other methods to consider are, giving away assets while still alive, establishing a Living Trust, or owning property jointly. This usually entails a spouse. 

It is important to note that if you have no Trust at the time of your death, the court will appoint an administrator, which may lead to unwanted consequences.