Avoiding a Formal Probate
Most people are eager to avoid a formal probate process. Certainly, there is motivation to avoid the process of distributing property to loved ones through the courts if possible. One way to avoid probate is to start your estate planning early. You should consult with an experienced estate planning attorney to discuss putting real estate and other valuable items in a trust.
Additionally, you may be able to exclude the following types of property from probate: (1) Property held in Joint Tenancy where upon the death of one of the joint tenants the property passes to the surviving joint tenant (2)Community property with right of survivorship whereupon death the community property passes to the survivor. (3) certain property held in trust; (4) joint checking and savings accounts; (5)Life insurance proceeds; (6) Retirement plans and annuities; (7) Other community and separate property that are transferred to a surviving spouse and certain other property. If you have questions about what property should be included in a probate and live in the Los Angeles area you should consult with an experiencedLos Angeles Probate attorney. Be aware that if you can avoid formal probate, you may still be required to go through the court system. However, it is likely that you will be able to save money and reduce your workload if you can avoid the probate process.