Probate Attorney in Henderson, Nevada
How can I avoid probate?
How can I avoid probate?
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there’s many ways to avoid probate and
largely that depends on what types of
assets you have
if you are a young single individual in
college and
your assets consist of a car and a bank
account a lot of times you can get away
with designating a beneficiary on that
bank account
but if you have if you have more assets
if you have a home for example
in the majority of states the only way
to avoid probate effectively
is to
prepare a trust that owns the home so we
can skip some of these probate processes
so
it’s not really a straightforward answer
just depending on on who you are or what
your financial makeup looks like but
there’s a wealth of strategies that we
can use
to
meet those circumstances
Las Vegas, NV estate planning attorney Zachary Morris explains how you can avoid probate. He explains that there are many ways to avoid probate, and the approach largely depends on the types of assets a person owns. For a young, single individual in college whose assets might be limited to a car and a bank account, simply designating a beneficiary on the account can often suffice.
However, for someone with more substantial assets, like a home, the options are different. In most states, the most effective way to avoid probate for real estate is to create a trust that holds the property, allowing the estate to bypass certain probate processes.
He emphasizes that there isn’t a one-size-fits-all answer; the strategies vary depending on an individual’s financial situation, but there is a wide array of tools available to structure an estate to minimize probate.
