3 Ways to Avoid Probate | Springdale Estate Planning Attorney

First, have nothing left. This is a great plan except you don’t know when your last day is. If it happens before you have spent everything, then your family faces probate. And it’s not your rules, it’s the state’s rules from their default estate plan.

Second, use a beneficiary based plan. This plan depends on setting up your accounts and real estate to avoid probate using methods available on all of your accounts, investments, and real estate. This type of estate planning is to avoid probate. It does nothing to protect your children’s inheritance. However, if anything is forgotten, it goes to probate.

Third, use a revocable living trust. This type of trust allows you to have full control of your property during your lifetime. Then later the next trustee must follow the rules you left. Depending on the level of protection and control, this ranges from simple to complex. These trusts can be setup to protect your children from themselves, creditors, financial predators, and more. You get to decide who gets what, when, how, and how much and under the conditions and rules.

Without a plan, your family is forced to use the state’s plan for what you had. A Judge gets to decide who gets what, when, how, and how much – not you.

Without a plan, families are often thrown into chaos when an unforeseen accident, medical incident, or death happens.

With a plan, your affairs are in order. You get to decide who gets what, when, how, and how much!

With a plan, you can control what happens instead of letting chaos control.