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How to Keep Your Loved Ones From Going Through Probate in Florida

ESTATE PLANNING Attorney, NONPROFIT, BROWARD, MIAMI Corporate, Business ATTORNEY, > Estate Planning  > How to Keep Your Loved Ones From Going Through Probate in Florida

How to Keep Your Loved Ones From Going Through Probate in Florida

Probate is the legal process by which a person’s estate is distributed after they die. Many people are unaware of this legal process in Florida. Others that are aware may not know that probate can be extremely difficult on the family members of the deceased. 

The following are some tips to help keep your loved ones from going through probate.

What You Can Do to Keep Your Loved Ones From Going Through Probate in Florida

1. Create a Living Trust

When you create a living trust, you can protect your loved ones from going through probate. You can also choose to have the trust manage your assets while you are alive, or appoint someone to manage them on your behalf after you die.

To create a living trust, you will need to gather information about your estate and have an estate planning attorney make a legally binding agreement to that effect for you. You will also want to make sure that your living trust is updated as your estate changes so that your loved ones have no reason to go through probate after your passing.

2. Draft a Will

If you understand that you will someday leave your loved ones behind, you may want to consider drafting a will. This document can help ensure that your loved ones do not have to go through the hassle and stress of probate. If you die without a will, your loved ones will have to go through a lengthy intestate process to inherit your property. By creating a will, you can avoid this situation entirely. Here are some things to keep in mind when drafting a will: 

Make sure you have an accurate inventory of all assets and debts. This information can be helpful when drafting the will as it will help determine who should receive what property and money after you die. 

3. Name Asset Beneficiaries

Florida law allows the designation of beneficiaries to receive property when someone dies. This can be beneficial to both the individual and those who would have to go through probate if the individual did not designate a beneficiary. 

This process ensures that the beneficiary can access the assets immediately. If you do not designate a beneficiary, the assets will go into probate and may not be available until after probate

If there are children involved, naming a guardian for them may also be beneficial.

4. Create a Payable-on-Death Account

By setting up a payable-on-death account, you can ensure that any assets you leave will go directly to those who are entitled to them without having to go through probate. There are many different types of payable-on-death accounts available, so it is important to consult with an expert if you are unsure which one is right for you and your family.

An expert can help you make sure that the account is set up properly so that it can be used as intended. Secondly, an expert can help ensure that there are clear instructions for who should receive money from the account if you die.

The SG Law Firm

If you need a Florida probate attorney to help you with estate planning, contact the SG Law Firm. We can help you make the right choices to keep your estate out of probate.

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