The Smartest Way to Make Sure Your Estate Plan is Probate-Proof
First in a 3-Part Series
Consider this important question: When did you and your estate planning attorney perform a full review of the following?
- Your long-term plans for your financial affairs
- Family
- Legacy?
For that matter, have you ever sought out such a review? Have you taken the necessary steps to keep your estate out of probate when you die? Many individuals believe their estates are protected against probate. This three-part series will examine how to probate-proof your estate.
Have your finances changed over time? Do you have misconceptions about the probate process and what triggers it? Could protection erode or disappear entirely? In fact, many people are blissfully unaware just how vulnerable their estates are to probate. This lack of awareness could impact you and the next generation as well as charities you support. What would happen if you fail to identify these issues? Your family may discover the error at the worst possible time. How can you do to stay current and complete?
The answer is simple: Periodic strategic reviews of your estate plan to ensure that it’s probate-proof and up to date. In this three-part series, we will examine the probate process and explain how you can avoid it, if at all possible.
Understanding the Probate Process
Technically speaking, probate is not a bad thing. The process is simply the government’s way of making sure your property is distributed in the right directions when you pass away. This process includes proving the validity of your will (if you left one). Probate also evaluates your property, tax situation and debts and disburses whatever is left.
Most people understand that if someone dies without a will, that person’s belongings go through probate. Perhaps fewer people realize that creating a will, in itself, does not protect their property from probate. The process can move smoothly when you have left a will stating your intentions for your belongings. However, any part of your estate that is titled solely in your name at the point of your death is subject to probate, regardless of the existence of a will.
Check back next week, when we continue this ongoing series about how to probate-proof your estate.
About Skvarna Law Firm in Upland and Glendora, California
A skilled attorney can assist with your estate plan. Contact us today to learn about your options (909) 608-7671. We operate offices in Glendora and Upland, California. We provide legal services for individuals living in San Bernardino, Los Angeles, Orange and Riverside Counties. This includes the cities of Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Montclair, Pomona, La Verne, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
