How to Avoid Probate for Everyone: Protecting Your Estate for Your Loved Ones
- ISBN-10
- 1621537315
- ISBN-13
- 9781621537311
- Category
- Business & Economics
- Pages
- 216
- Language
- English
- Published
- 2020-04-07
- Publisher
- Simon and Schuster
- Author
- Ronald Farrington Sharp
Description
An experienced estate attorney explains how to prevent costly mistakes: “Clear explanations about how to approach this important tax—and family—topic.” —Pia Bennett, CFP, Select Financial Services Group, Inc. Drawing on his forty-four years as an estate attorney, Ronald Farrington Sharp describes the probate process and why it should be your last resort in estate settlement methods. Living trusts are important, but there are many alternatives for probate avoidance. These are explained step-by-step as Sharp delves into the details. He reveals how: While state laws vary, most allow for expedited procedures for low-value estates without having to create a trust. There are a dozen different ways of leaving assets to heirs automatically at death. Special types of deeds allow you to keep control of your real estate during lifetime yet transfer it to heirs automatically at death. There are ways to title vehicles that allow heirs to get them without court procedures. Beneficiary designations on bank and investment accounts keep them out of your probate estate. Joint ownership of accounts and real estate can solve inheritance problems. He also debunks myths and misconceptions about estates and probate. Trusts are covered in detail, including a section on must-use trust provisions to cover common complications and showing how a trust can easily resolve these. Joint and single trusts are examined and issues, such as how to handle personal property items, are suggested. (For instance, who gets the piano?) He also advises on issues of adult guardianship and conservatorship and how families can avoid embarrassing and time-consuming court hearings. Samples of documents are included to give an idea of what the paperwork actually looks like. With Sharp’s matter-of-fact explanations, you can prepare to take the necessary steps with confidence and avoid probate.
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Other editions
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- 2020-04-07
- 192 pages
- Paperback
- Allworth
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