How can I protect assets from probate?

Protecting assets from probate is possible in Virginia by making use of several legal tools. Establishing a revocable living trust allows you to transfer assets into the trust and name a trustee to manage them and a beneficiary to inherit them. This arrangement avoids the probate process since the title to the assets is held by the trustee. Similarly, you can transfer assets directly to the beneficiary with the use of beneficiary deeds, which are also known as transfer-on-death deeds. Joint ownership of assets with rights of survivorship provides another means of avoiding probate since the surviving joint owner automatically assumes ownership of the asset at the death of the first owner. Finally, putting assets into a life insurance policy and naming a beneficiary will cause the assets to bypass the probate process. To take advantage of any of these options, it is important to consult with a qualified attorney who is familiar with Virginia probate law and the specific steps required to transfer the assets. With the help of a legal professional, you can make sure that your assets are protected and will pass quickly and easily to the designated beneficiaries.

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How can I protect assets from probate?

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