How can I avoid probate?

Probate is a legal process where the assets of a deceased person are administered and distributed. In California, probate can be both lengthy and costly. Fortunately, there are estate planning legal strategies that can be used to avoid probate. One of the simplest ways to avoid probate is to make use of joint ownership of assets. Assets owned jointly with a right of survivorship (such as a bank account or real estate) pass automatically to the surviving joint owner, without the need for probate. You could also transfer ownership of assets to a trust. The trust document controls how assets are distributed upon death. In addition, there are certain assets that are exempt from probate, such as retirement accounts, life insurance policies, and pay-on-death accounts. If the total value of your estate is under a certain amount, then certain assets may be excluded from probate. In California, estates with a value of less than $166,250 may be exempt from probate. Finally, it is also possible to make use of gifting in order to reduce the size of your estate. You can give away assets to your Beneficiaries during your lifetime without fear of them being subject to probate. Overall, there are many steps you can take to avoid probate in California. Taking the time to understand your estate planning options is important in order to ensure that your wishes are respected.

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How can I avoid probate?

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