Want to avoid probate? Gleaned from his forty-four years as an estate attorney, Sharp describes the probate process and the many reasons why it should be your last resort in estate settlement methods in How to Avoid Probate for Everyone. Living trusts are important, but there are many alternatives to using a living trust for probate avoidance. These alternatives are explained step-by-step as Sharp delves into the details. Examples of such approaches include:
- While state laws vary, most allow for expedited procedures for low-value estates without having to create a trust.
- There are a dozen different ways of leaving assets to heirs automatically at death.
- Special types of deeds allow you to keep control of your real estate during lifetime yet transfer it to heirs automatically at death.
- There are several ways of titling vehicles that allow heirs to get them without court procedures.
- Beneficiary designations on bank and investment accounts keep them out of your probate estate.
- Joint ownership of accounts and real estate can solve inheritance problems.
- Common myths and misconceptions about estates and probate are debunked.
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About the Author
Table of Contents
Chapter 1 The Probate Process 1
Chapter 2 Avoiding Probate without Using Trusts 14
Chapter 3 Using Trusts as a Probate-Avoiding Tool 31
Chapter 4 Six Situations When a Trust Is Absolutely Necessary 69
Chapter 5 Using Powers of Attorney to Avoid Court-Ordered Guardians and Conservators 73
Chapter 6 Selecting and Dealing with Attorneys 79
Chapter 7 Funding the Trust 81
Chapter 8 Myths and Misconceptions about Estates and Probate 87
Appendix A Sample Intestacy Laws 91
Appendix B Sample Medical Power of Attorney and Advance Directive 95
Appendix C Sample Durable Springing Power of Attorney 108
Appendix D Sample Information Form to Take to Your Attorney to Start the Trust Process 116
Appendix E Sample Simple Trust 120
Appendix F Sample Pour-Over Will 160
Appendix G Sample Assignment of Assets to Trust 166
Glossary of Terms 169