Avoiding Probate with the Enhanced Life Estate Deed
Virtually all of my clients want to know how to pass their assets to their children without the expense (legal fees) or delays that they think will be involved in probate. This article is not intended to discuss the probate process, but to get started I must mention certain principles:
If you own property in your own name when you die, your beneficiaries will have to hire a lawyer to probate your estate. However, certain assets will pass under the terms of the contract between you and, for example, your bank, where you have named a beneficiary on your account. This also works for insurance policies, annuities, and IRA accounts. |
