How to avoid probate by “operation of law”

How to avoid probate by “operation of law”

| Written by Wendy Mara | One of the goals of estate planning is to help clients avoid estate planning probate. No, everyone does not have to go through probate. And no, contrary to popular belief, a will does not avoid probate. A will is not self-executing; that is, it doesn’t transfer ownership of assets to the beneficiaries automatically. A will has to be submitted to a probate court and deemed valid before it has any authority at all. Then the probate process ensues. The court oversees the process and settles any disputes that arise. Time periods for creditors to file claims, giving notices to creditors and beneficiaries, obtaining acknowledgments, and probate litigation can create great emotional and financial costs and delay. How do you avoid probate? Whether you can avoid probate has nothing to do with the total value of your estate or whether federal estate tax is a factor. There are no Florida estate or inheritance taxes. There are two...
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