How You Can Avoid Probate

Probate is the process that occurs after a person dies. When that person has a will, the court will facilitate the execution of the will, appointing an administrator. If the person dies without a will, the state will administer assets according to state law.

When your family goes through probate, the courts and government will take fees and taxes out of the estate, cutting into the assets you left for your loved ones. At Mehalko and Moghul PLLC, we evaluate your unique situation and all of the estate planning options available to determine if it's possible for you to avoid probate altogether.

Probate Can Be Costly And Complicated

The probate process is notorious for being costly and lengthy, taking months — sometimes years — to fully execute. While your family should be focused on mourning their loss, the last thing they need is to worry about these hidden costs to your estate.

Be Smart With Your Estate Plan

Some aspects of estate planning fall outside of probate. By implementing a smart strategy, you can assemble an estate plan that consists of these elements exclusively. They can include:

  • Trusts
  • Real estate, if you add a loved one's name to the deed
  • Bank accounts, by adding a loved one to the account
  • Life insurance and retirement accounts, by naming beneficiaries
  • Stocks and bonds, by placing them in your loved one's name

By allocating your assets into these categories and others, you may reduce your estate to such a small amount that your family can go through a simplified probate process, or possibly skip probate altogether.

Work Closely With An Estate Planning Lawyer

Every situation is unique, and you need an estate plan unique to you. By working with an experienced estate planning attorney, you can determine whether or not you can organize your assets in a way that can help your family avoid probate, making the process simpler and more affordable for everybody.

Our firm is located in Vienna, and has helped families across northern Virginia and the bordering Maryland counties plan their estates to work how they want them to, when they need them to. Call 571-732-0764 today to schedule an initial consultation, or send us an email to get started with your estate plan.