How to Prevent Probate. There are no standard rules or guidelines regarding probate in the United States and in other parts of the world. In fact, some US states differ from others on how they govern this issue. There is one common denominator though and that most people prefer not to probate their will. This is due to the stress brought about by the dragging legal proceedings and the huge expenses necessary to go through probate. In the state of California, probate can be avoided by a number of ways.
1.
To prevent probate on all your properties, one can make a trust document where it is indicated who will be the successor trustee once the decedent passes away. The next step is to transfer the ownership of the property to the decedent himself and name him the trustee. Once he dies, the successor trustee is responsible for transferring the assets to the beneficiaries without the need for probate.
2.
Another way to avoid probate is to have joint ownership of a property. A “right of survivorship” allows the surviving owner to gain sole ownership of the assets without going through court proceedings.
3.
Money in bank accounts or in security deposits can be placed under the ‘payable-on-death’ accounts. After the decedent’s demise, the POD beneficiaries get the money directly from the bank without the need for probate.
4.
Securities (stocks and bonds) and vehicles can be registered under the TOD or beneficiary. Both kinds of assets don’t need to undergo probate. The heir can claim the stocks and bonds from a brokerage company while vehicles are directly given to the beneficiaries.
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Directions to Daniel R. Mortensen
MORTENSEN LAW OFFICE
Tax, Trust & Probate Attorneys, P. C.
22807 Lyons Avenue
Newhall, California 91321
(661) 799-9225
(661) 799-8838 fax
