8 Ways to Avoid Probate

by: Mary Randolph, Senior Vice President of Editorial

8 Ways to Avoid Probate

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You’ve probably read magazine articles or heard financial advice-givers urging you to “avoid probate.” And if you’re like a lot of people, you wondered not only why you should avoid probate, but also, just what IS probate?

This book answers both questions. It explains probate—the court-supervised process of collecting the assets of someone who has died, and then distributing them according to the will or state law. You’ll see that the process isn’t usually too complicated, but it can be costly and time-consuming, especially in certain states, such as California.

You can spare your family the hassle and expense of probate by, during your lifetime, taking advantage of some or all of the simple probate-avoidance methods outlined here. It’s not difficult or expensive. For example, it’s easy and free to add a “payable on death” designation to a bank account. And if you do, then when the time comes, the account will go directly to the person you name to inherit it—without any probate court involvement.

It’s worth looking into. Your family will be grateful! Read the book here for free, and if you’d like your own copy (in print or electronic form), visit our store.

Additional resources on Probate Avoidance:

Articles and FAQs on Retirement Planning

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