How do you avoid probate costs for assets listed on a Will?
Jan Meriss Alfonso Assistant at Ascent Law LLC Assets listed on a will I had the fortunate opportunity to review a few of the many options for avoiding probate costs when you have assets listed on a Will. I found that some of these options are most useful for individuals who have a bigger net worth. For example, if you want to leave assets to your spouse or children, there are several tools that can make it less costly to do so. Moving your assets before death If you want to move assets around before your death, you may be able to use an Irrevocable Trust or a Living Trust. If you want to give away property now and cut the time it would take to transfer the asset after your death, try gifting. A revocable living trust or a joint ownership account If you want to avoid probate costs for certain assets, the solution is to make sure they are held in a revocable living trust or a joint ownership account. A revocable living trust can hold all of your assets, and it will continue to be ...