Minneapolis, MN estate planning attorney Cameron R. Kelly talks about the best ways to avoid probate.
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The easiest way to avoid a probate, the most common maybe is to create a trust while you’re living and that’s called a revocable living trust. When my clients create a trust like that, they are something called a trustee. They put the property into the trust and we help them to do that. We create the terms of the trust and then while they’re living there isn’t’ much of a difference to them with how they manage their property. They can still make all the decisions that they need to with that property.
But the advantage is when they pass away someone else takes over as the trustee and that is what avoids the probate is the probate is often started in order to try to retitle assets where there are no instructions or where the only instructions are a will. Instead, the trustee who takes over this property can distribute it and takes over control of those assets pretty quickly. It’s probably the most common estate planning that we do for people is put in place a revocable living trust and oftentimes it’s to do just that, avoid probate.