Helping Transfer Property Outside Of Probate
During the estate planning process, many of our clients at Kaeble Law LLC ask us if there is any way we can help keep their property out of probate. They want to know that their family will be spared from the challenges that can often arise during the lengthy and costly process. Below, we have listed some of the things we can do to help you pass down your property. Schedule a consultation with our attorney to learn more about your options.
Trusts Are Perhaps The Most Common Method To Avoid Probate
We have helped several individuals create trusts to pass along assets to intended beneficiaries. With a trust, you can either retain or relinquish control over the assets while you are alive. The appointed assets belong to the trust, and will be distributed to beneficiaries according to your specific directives.
Trusts can cover a host of different assets, including cash, property or dwellings. If you retain control over the assets, you can make adjustments to the trust as you see fit. There are many different types of trusts available to you, and we can help you determine the arrange that is best for you and your situation.
Other Potential Means Of Transferring Assets
If you have checking, savings or retirement accounts, you may be able to name an individual who would receive these assets upon your passing. This can help the property avoid probate, but you need to make sure you follow all instructions and comply with Colorado laws accordingly. Additionally, if you own real property with another person, perhaps your spouse or another loved one, that individual may receive full ownership of that property upon your passing if you put such a system in place.
Advantages To Passing Assets Outside Of Probate
One of the most common complaints about the probate process is that it takes a long time to fully resolve. The majority of the assets of an estate can be tied up while the process is pending, which could be very challenging for those individuals who are dependent upon these assets.
By planning ahead, you can avoid seeing these assets go through the courts. You can transfer the assets at the time of your death or before you pass away, depending upon what works best for you and your family. You can also keep certain information confidential, which may be something that is extremely important to you. We can discuss what we can do to help you fully carry out your specific wishes and address all of your probate concerns.
Want To Know More?
If you have additional questions about your estate plan and the impact of probate on your assets, call our office today at 720-759-3082 or send us an email to schedule a consultation with an experienced lawyer. We represent clients in Lakewood, Golden and throughout the west Denver metro area.