Probate can be frustrating, time-consuming and extremely expensive.
Probate is the process in which the court reviews, accepts (or rejects) and executes a will. Probate can take years.
But probate can be avoided. At West, Longenbaugh and Zickerman P.L.L.C. in Tucson, Arizona, our attorneys can help you preserve your estate and protect it from the ravages of probate.
Ways To Avoid Probate
There are a variety of legal options available for avoiding probate. Here are four of the most common:
- Death beneficiaries: Retirement accounts (401(k)s and IRAs), transfer on death registrations, and payable on death (POD) accounts can be effective methods of transferring wealth to beneficiaries, while bypassing probate.
- Gifts: Gifting can be an efficient way to pass on portions of your estate. You also receive the gratification of seeing people receive your gifts firsthand. But the tax laws regarding gifts can be complicated, so it is crucial to do this correctly.
- Revocable living trusts: This is a kind of trust in which you give property to someone to hold for you, and you retain the option to revoke the trust. Although the other person owns what is in the trust, you can take back possession at any time. When you have passed, the trust holder possesses the trust’s contents and probate is bypassed.
- Joint property ownership: This method of property transfer consists of you and another person becoming co-owners of a property. After your passing, the other person simply becomes the sole owner.
In many areas of life, it is advantageous to understand your legal options. This is certainly true for probate.
Speak With An Experienced Lawyer
At West, Longenbaugh and Zickerman P.L.L.C., our Arizona attorneys know how to protect your legacy from probate.
We are in Tucson and are ready to help you. Call our lawyers at 520-518-3781 or contact us online.
Let's Begin Solving Your Legal Problem
At West, Longenbaugh and Zickerman P.L.L.C, we are proud to serve people in Tucson and beyond. To speak with an attorney, call us at 520-790-7337
West. Longenbaugh & Zickerman PLLC
310 S. Williams Boulevard,
Tucson, AZ 85711
Mon-Fri: 8:30am - 5pm