Does Having a Will Avoid Probate?
Does Having a Will Avoid Probate?
Having a Will does not mean there will be no probate.
Probate is the process during which the court supervises the administration of your estate whether or not you have a Will.
If avoidance of probate is your goal, there are methods available which can accomplish that for you. Some examples are:
- Revocable or Irrevocable Trusts
- Naming “pay on death” or “transfer on death” beneficiaries for a variety of assets, such as bank accounts, stock account, life insurance, annuities, etc.
- Executing and recording a Transfer on Death Deed with respect to real estate
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