Avoiding Probate

Nobody wants their loved ones to have to go through a long and costly probate process after they pass away. Fortunately, with some simple planning techniques, you can avoid probate altogether and protect your estate and your loved ones. Here are some tips to help you avoid probate in Ohio:

Create a Living Trust

One of the most effective ways to avoid probate is to create a living trust. A living trust is a legal document that allows you to transfer ownership of your assets to a trust while you are still alive. When you pass away, the assets in the trust are distributed according to your wishes, without the need for probate. In Ohio, a living trust is recognized as a legal way to avoid probate.

Name Beneficiaries on Accounts and Assets

Another simple way to avoid probate is to name beneficiaries on your accounts and assets. This can include life insurance policies, retirement accounts, and bank accounts. By naming beneficiaries, you ensure that the assets will pass directly to the beneficiaries after your death, without the need for probate.

Joint Ownership

Another option is to own assets jointly with someone else. For example, if you own a home with your spouse, and one of you passes away, the ownership automatically passes to the surviving spouse, without the need for probate. Joint ownership is recognized in Ohio as a legal way to avoid probate.

Make Sure Your Estate Plan is Up to Date

It is essential to keep your estate plan up to date to ensure that your assets are distributed according to your wishes. If your estate plan is not updated, it may not reflect your current wishes, and your loved ones may have to go through probate. Review your estate plan regularly and make changes as necessary.

Consult with an Ohio Estate Planning Attorney

Navigating the probate process can be complicated and time-consuming. That's why it is essential to consult with an Ohio estate planning attorney who can help you create an estate plan that will help you avoid probate and protect your estate and your loved ones.

By planning ahead and using simple techniques, you can avoid probate altogether, which can save your loved ones time, money, and stress. Consider creating a living trust, naming beneficiaries on accounts and assets, owning assets jointly with someone else, keeping your estate plan up to date, and consulting with an Ohio estate planning attorney. With the right plan in place, you can rest assured that your estate will be distributed according to your wishes, and your loved ones will be protected.