It’s a word that either people have never heard of or fills them with dread. It’s the big, hairy, yuck that happens when somebody dies.
But it doesn’t have to be!
Probate is NOT a foregone conclusion and it doesn’t have to be a reality for you or your family. Assets enter into probate when it’s not clear from the asset itself where it is supposed to go. That sounds complicated so let’s break it down:
When an asset has co-owners, like in the case of spouses owning a piece of real estate, and one owner dies, the asset clearly passes to the second owner.
What happens when the second owner dies?
If it’s not in writing on the deed itself – then it goes to Probate. And no, I don’t mean you can just handwrite onto your deed what should happen. I mean a legally correct change to the deed.
In fact, any asset that is held by a single person can go into probate because the next owner isn’t specified. Now, if you have a Will, it tells the Probate Court what to do with that piece of real estate. Which means – you DO need a Will to at least tell the Probate Court what to do with your stuff.
What most people don’t know is that every state has a default Will for its residents in State law. But dollars to donuts… that “default” Will isn’t what you want or what is the best for your family.
But wait! You have other options! (Say that in your best late-night infomercial voice.)
You can be a Good Guardian for your family and set up a plan for your assets by getting your Will drafted. (While you’re at it, we’ll do your Durable Power of Attorney and Health Care Proxy so you’re fully covered.) Then, when you pass away, the Courts have a specific plan to follow that allows you to accomplish your goals.
Get started today by applying for a FREE Good Guardian Strategy Session and in a short, complimentary phone call you can get clear on what is what is your best next step.
Apply Here – And have the peace of mind of knowing your family is protected, no matter what, and no matter when.