Debunking Common Myths and Answering Your Probate Questions
Myth 1: Probate is Unavoidable
Many believe that probate is an inescapable part of settling affairs after someone’s death. However, this isn’t always the case. Probate is necessary when handling assets solely in the deceased’s name without designated beneficiaries. It’s possible to sidestep this process if assets were co-owned or had clear beneficiary designations, like in joint tenancies or via transfer-on-death arrangements. Strategic planning using tools like revocable living trusts and appropriate ownership designations can effectively bypass the probate process for surviving loved ones.
