Share

Estate and Business Planning Legal Blog

Friday, December 4, 2015

How to Avoid Probate

 

A very common misconception is that probate is to be avoided at all costs.  While the probate process in some states can be long and arduous, probate in New York, if handled by a competent attorney, is usually quite simple.  One advantage of going through probate is that the Courts oversees the process, to some extent, and so it forces the parties involved to do the right thing.  Having a will which goes through probate also allows the easy creation of trusts for minor children and it can provide for the distribution of assets in the event of the death of a beneficiary.

If one desires to avoid probate, preparing a revocable living trust is one option.  Another option is to make sure that all of one's liquid assets have beneficiaries listed on them, so that at death the assets will pass directly to the beneficiaries without court intervention.  Clearly, this can not be done with real property. One should take care, however, in naming beneficiaries, to make sure they are all competent adults.  One should never list minor children as beneficiaries, as that causes a good deal of legal complications.  Moreover, problems are created when a beneficiary listed on an account predeceases the owner.  


Archived Posts

2017
2016
2015
2014
2013


At the Law Office of Angela Siegel, we are pleased to offer legal assistance to clients located in Nassau, Suffolk, Queens, Kings and New York Counties specifically but not limited to Garden City, Jericho, East Meadow, Mineola, Syosset, Roslyn, Cedarhurst, Woodmere, Hicksville, Plainview, Merrick, Wantagh, Bellmore, Rockville Center, West Hempstead, Little Neck, Douglaston, Bayside, Flushing, Forest Hills, Astoria, etc., as well as clients located within the state of Florida.



© 2017 Law Office of Angela Siegel | Attorney Advertising
1205 Franklin Avenue, Suite 330, Garden City, NY 11530
| Phone: 516-741-6100

Overview of Services | Asset Protection | Business Law | Estate & Disability Planning | NY/Florida Wills & Trusts | Probate/Estate Administration | | Newsletters | Firm Overview | Attorney Profile | Resources

Law Firm Website Design by
Amicus Creative