automatically transferring assets to your designated beneficiaries. Revocable Living Trusts Another powerful tool is creating a revocable living trust. You transfer your assets into the trust, and you can remain the trustee during your lifetime, managing the assets as you see fit. Upon your death, the successor trustee you’ve named will distribute the trust assets to the beneficiaries according to your instructions in the trust document — again, without probate. Incorporating these strategies not only simplifies the distribution of your assets but also provides peace of mind, knowing that your beneficiaries can avoid the complications of probate. Although setting up a trust is the preferred way to address your assets, solutions are available to those in probate situations. Michael B. Hill of Sheppard Law Firm is pleased to offer an online masterclass on avoiding probate in four easy steps. For more information and to sign up, please visit AvoidProbateMasterclass.com .
How to Sidestep Probate Simple Ways to Avoid Probate With Your Assets
Avoiding probate is a common goal for many when planning their estate, and for good reason. Probate is the legal process through which a deceased person’s assets are distributed under court supervision. This process can be time-consuming, costly, and public — all good enough reasons to find an alternative that allows your estate to pass directly to your loved ones. First, understanding what probate involves is crucial. Probate is the distribution of assets in your name at the time of your death. Without proper planning, these assets must go through probate before being legally transferred to your heirs. However, several strategies can ensure your assets bypass the probate process, saving your beneficiaries time, money, and stress. Here are three effective ways to avoid probate.
Beneficiary Designations One straightforward method is to designate beneficiaries directly on accounts such as IRAs, life insurance policies, and retirement plans. Doing so will transfer these assets directly to the named beneficiaries upon your death without going through probate. It’s vital to keep these designations up to date to reflect your current wishes. Payable on Death (POD) and Transfer on Death (TOD) For bank accounts, you can set up a Payable on Death (POD) designation, which allows the account’s contents to be transferred directly to a named beneficiary when you pass away. Similarly, Transfer on Death (TOD) registrations can be used for brokerage accounts and other eligible assets. These designations are simple to set up and effectively bypass probate by
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Loaded with rich tomato sauce, gooey cheese, and perfectly cooked pasta, this is a family favorite perfect for any occasion.
TAKE A BREAK!
INGREDIENTS
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1 (16 oz) package of dried ziti pasta
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1 (14 oz) can diced tomatoes
1 onion, diced
1 cup ricotta cheese
2 cloves garlic, minced
1 cup shredded mozzarella cheese
1 (24 oz) jar marinara sauce
Salt and pepper, to taste
DIRECTIONS 1. Preheat oven to 375 F. Grease a 9x13-inch baking dish. 2. Cook ziti according to package instructions. 3. In a large skillet over medium-high heat, cook the onion and garlic until softened. 4. Add marinara sauce and diced tomatoes, stirring to combine. 5. Stir in the cooked ziti and season with salt and pepper. 6. Transfer mixture to baking dish. 7. Top with ricotta and mozzarella cheese and bake for 20 minutes or until the cheese is melted and bubbly.
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