Probate is the legal process through which a deceased person’s estate is administered.

While probate is sometimes necessary, many people prefer to avoid it if possible.

Why People Avoid Probate

Probate can involve:

• Court oversight
• Administrative costs
• Delays in distributing assets

For these reasons, many individuals plan their estates to reduce or avoid probate.

Common Probate Avoidance Strategies

Several tools can allow assets to pass outside of probate, including:

• Revocable living trusts
• Joint ownership with rights of survivorship
• Beneficiary designations
• Pay-on-death accounts

The Importance of Proper Planning

Each strategy has legal and financial implications. Proper planning can help ensure that assets pass smoothly to intended beneficiaries.