Avoid Probate Court or Probate Litigation
Experienced Estate Planning Advice for Arizona Families
Today's estate planning focuses heavily on how to avoid the hassles of probate. The truth is - probate is not as dreadful as some people make it out to be. However, the probate process can be time consuming and expensive, and it can expose some larger estates to significant taxes. Especially when the family is dealing with their loss, probate can seem overwhelming. With the help of an experienced estate planning lawyer, you can create a plan that allows for the distribution of your assets to loved ones without the time, expense, or stress associated with probate.
Contact James F. Byrne, Jr., PLLC, to learn effective estate planning techniques to avoid probate through the use of a living trust and other estate planning.
A living trust allows you to control your assets while you are alive (as both the trustee and beneficiary) and allows the assets held in the trust to pass directly to the named successor beneficiary or beneficiaries after your death (without going through probate ). A living trust is a revocable trust, meaning that you can make changes to it or cancel it altogether during your lifetime.
Important Steps to Avoid Probate Court
Phoenix estate planning lawyer James F. Byrne, Jr., can help you achieve the goal of avoiding probate with a living trust or number of trusts. He can also help you with making certain that your estate does not end up in probate court due to technical aspect of your estate planning.
- Create a living trust: Create a living trust, such as a qualified personal residence trust (QPRT) or other living trusts to hold legal title to your assets.
- Transfer assets to the trust: Once the trust documentation is completed, transfer your property and other belongings into the trust.
- Continue to fund the trust: It is important to remember that any assets you acquire after you initially created the trust must also be transferred to the trust. Otherwise, you will still hold legal title to those assets. Upon your death, assets not held in the trust will be considered estate assets and your family will end up in probate court administering those assets.
James F. Byrne, Jr. has 35 years of legal experience and has received an AV-Rating* under Martindale-Hubbell's peer-review rating system. His unique understanding of probate laws and estate planning techniques can be beneficial when you are deciding how to effectively meet the needs of you and your family.
Contact James F. Byrne, Jr., PLLC to schedule a free initial consultation to discuss your needs and how you can help your family avoid probate.
