Can Probate Be Avoided?

At Boswell PLLC, a trusted Dallas estate planning law firm, we understand that going through the probate process can be time-consuming, expensive, and emotionally draining. Many individuals wonder if probate can be avoided altogether. The answer is yes, and here's how we can assist you. Get in touch today.

probate documents

What Is Probate?

Probate is the legal process of administering a deceased person's estate, which involves validating the will, identifying and appraising assets, paying debts and taxes, and distributing the remaining property to the beneficiaries. However, with proper estate planning strategies, probate can often be avoided or significantly minimized.

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A Living Trust

One effective way to avoid probate is by establishing a living trust. A living trust allows you to transfer your assets to a trust during your lifetime, naming yourself as the trustee and retaining control over your property. In the event of your incapacitation or death, a successor trustee takes over the management and distribution of your assets, bypassing the need for probate.

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Designate Beneficiaries

Another method to avoid probate is to designate beneficiaries for your assets. By adding beneficiary designations to your bank accounts, retirement accounts, and life insurance policies, you can ensure that those assets transfer directly to the designated individuals upon your passing without the need for probate.

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Joint Ownership

Additionally, jointly owning property with rights of survivorship can help you avoid probate. When you co-own property with someone, such as a spouse or child, upon your death, the ownership automatically transfers to the surviving co-owner without the involvement of the probate court.

Our Customized Estate Planning Services

At Boswell PLLC, our experienced estate planning attorneys can tailor a customized plan to help you avoid or simplify the probate process. We will take the time to understand your unique goals and circumstances and provide you with comprehensive options that align with your wishes. Contact our probate lawyers in Dallas today to explore the various strategies available to you.

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