Probate court can be necessary even if you have been clear in your will about where you want your assets to go. The process of having an asset transferred can take a long time, during which your family members will be waiting to take ownership.
Avoiding probate in Wolcott CT is easier than it sounds. With a little pre-planning and some expert advice, there are a few legal ways to ensure that your assets never end up in probate court. Taking the time to fully explore these options can save your family months of waiting and expensive court costs.
A living trust is a great option for nearly any type of asset, including real estate and monetary accounts. The process of setting up a trust is simple and only requires some paperwork be completed. Once you have set up the trust between yourself and the recipient as the trustee, all that you need to do is transfer ownership of the asset from yourself to the trust. Since the property is now part of the trust, no probate court is needed to transfer it to the trustee.
If the major asset you are concerned about is a piece of property, setting it up as a jointly owned property is the best way to avoid probate in Wolcott CT. When two people own a piece of real estate, the right of survivorship can set up between them. With this right in place, the surviving person automatically inherits the property when the other passes away. No probate proceedings are necessary, and only a small amount of paperwork has to be completed.
With some planning and forethought, probate in Wolcott does not have to be a difficult process for your loved ones.
For more information regarding probate in Wolcott CT,contact Allaire Elder Law today!