Want to Avoid Probate?
Let Our 25 Years of Experience Help You!
When someone dies leaving behind assets and property that were in their
name alone, in most cases their loved ones will need to go to court to
transfer title of those assets from the decedent to the rightful beneficiaries
will. The process of proving a will valid and settling a decedent's estate
is called probate.
Probate proceedings can be lengthy and time consuming; therefore, it's no
wonder that some families take certain steps to spare their families the
hassle of probate.
In New York, one of the most common ways to avoid probate is through the
revocable living trust. A living trust can be used to avoid probate for
virtually any type of asset you own if funded properly – real estate,
automobiles, bank accounts, and so on. You can create a trust document
where you act as the trustee during your lifetime and you name a successor
trustee to take over upon your death. Once you pass, your successor trustee
steps into your shoes and manages the property according to the terms
you set forth in the trust, all without the need for probate.
Only those assets which pass through a will are subject to probate; therefore,
by arranging your assets so they pass automatically to someone else when
you die, you can circumvent the probate process. Those assets which are
not subject to probate include:
- Property owned in joint tenancy, which automatically passes to surviving owners.
- Tenancy by the entirety; this form of joint ownership (of real estate)
is like joint tenancy but only allowed for married couples in New York.
- Payable-on-death designations for bank accounts.
- Transfer-on-death registration for securities.
- Retirement accounts which pass automatically to beneficiaries.
- Life insurance policies with beneficiary designations.
- Assets held in a trust.
If you want to spare your family members the hassle and expense of probate,
contact a Long Island estate planning attorney from the
Law Offices of Steven M. Adler, PLLC for professional assistance!
Why the Law Offices of Steven M. Adler, PLLC?
We have over 25 years of
estate planning and probate experience.
In addition to estate planning, we represent clients in their
family law and
real estate matters.
- Our founder Steven M. Adler is a licensed real estate agent and a licensed
health and life insurance agent.
We proudly represent clients all throughout
Nassau County and Long Island.
Learn more about the Law Offices of Steven M. Adler by reading our
practice areas page and our