05/04/2026
WAYS TO AVOID PROBATE
If you have a will, your heirs will end up in probate court.
A will does not avoid probate.
So, how do you avoid probate?
There are many to avoid probate depending on the type of assets you own at your death:
1 – HOME:
If you own a home you can pass it to your spouse or family or anyone you chose 3 different ways:
(1) – TITLE
If you co-own a home with at least 1 other person,
you can specify how title is held on the deed.
3 ways to hold title to a home.
1. Joint Tenancy with Right of Survivorship (JTWROS)
This means that when 1 person dies,
the other person owns the home 100% outright
2. Tenants in Common (TIC)*
This means that when 1 person dies,
that person’s share is owned by their estate
(meaning per the will, or if no will, to their next of kin per the intestacy laws.)
The living person’s still owns their 50%
*TIC is the default rule, if not other way to hold title is specified in the Deed*
3. Tenancy by the Entirety
This is for married couples.
When 1 spouse dies, the other spouse owns the homme 100% outright.
(2) TRUST
If the home is titled in the name of Trust, such as a Revocable Living Trust,
the home passes per the terms of the trust.
(3) TODI (Transfer on Death Instrument)
This is a document filed with the county recorder of deeds
that essentially says who inherits the home at your death.
It does not take effect until you pass away.
2 – Bank Accounts/Investment Accounts/Retirement Accounts
1 – Beneficiary listing – You can name a beneficiary who inherits the money in your bank account, investment accounts, and retirement accounts.
2 – Pay on Death (POD) or Transfer on Death (TOD) accounts.
You name someone to inherit the money in this account at your death.
3 – Trust
You name a beneficiary in your trust to inherit the money left
in your account at your death.
The account can be set up in the name of the trust, or
you can name the trust as the beneficiary,
then the money is distributed per the terms of the trust at your death.
4 Life Insurance Policy Proceeds –
Beneficiary Listing
You name a beneficiary to inherit the funds at your death.
