Tag Archives: avoid probate
You Should Know the Limitations of Your Will
A will is a simple and effect method of handling many of your estate planning needs. However, it should not be looked at as a one-size-fits-all tool that will address all your needs. Here are a few examples of some of the limitations of wills that you should be aware of when planning your estate: […]
The Pros and Cons of Transfer on Death Accounts
The Transfer on Death (TOD) account or a Pay on Death (POD) account is a type of account often used for estate planning purposes due to its ability to bypass the probate process. Any assets placed in the account pass on directly to the beneficiary named by the owner of the account. Here’s a quick […]
Strategies to Avoid Costs Associated With Probates
Sometimes, it’s in the best interest of people planning their estate to do what they can to avoid probate. Here are a few examples of some of the strategies you can use to avoid probate. Use a trust: Revocable living trusts can be used to bypass the probate process. Trust property is not probated, meaning […]