Premier West Palm Beach Estate Planning Attorneys Skilled in Avoiding Probate

Avoiding probate is possible with the right counsel

The death of a loved one is incredibly difficult, with many emotional complications to deal with. There are also numerous financial and legal processes which must take place. One of these processes is the probate – or the opening and closing of one’s probate estate in court. The probate process takes both time and money. Thankfully, the resources and frustration associated with the probate process are generally avoidable. The key to avoiding probate is to work with the experienced probate attorneys at Kitroser Lewis & Mighdoll. We are dedicated to working with you and your family to establish an appropriate estate plan and avoid probate. As the South Florida leaders in estate planning, our reputation speaks for itself.

Why does the probate process exist?

Though you may have heard that the probate process should be avoided at all costs, and good estate planning generally helps you avoid probate, probate exists for very sound reasons. Indeed, the key to understanding why probate exists is also the key to understanding how to avoid it. Many people die without a will or any estate planning document in place. Others pass away with a basic will, or maybe a will with a number of amendments or codicils. If this occurs, the State of Florida wants to insure that the appropriate individuals or organization receive the assets of the decedent. As part of this process, the estate must publish a Notice to Creditors under Florida law. This allows creditors of the estate to file claims against the estate before an inheritance is paid out. The probate court oversees the process, including determining whether there is a valid will, appointing a personal representative, assessing what assets a person had at the time of death which must pass through the probate process, determining whether rules of intestate succession or surviving spouse share must apply, determining which creditors must be paid, and then determining what terms of a will are applicable given these considerations. As you can imagine, this is a complex process, but one that is necessary to see Florida laws are followed.

What assets are subject to probate?

Generally, only the probate assets of an individual make up the probate estate. In turn, the probate court will generally only process and distribute the assets of the probate estate. Probate assets are those assets which are owned by the decedent, personally, and do not otherwise pass by operation of law. For instance, joint bank accounts and insurance policies generally have contractual provisions which pass personal interests in those assets to another person at the time of the decedent’s death. These are not probate assets, if properly documented. Interest in property like houses and vehicles, on the other hand, will generally count as probate assets – unless the interest is not held by the decedent but by a trust or other legal entity. The more probate assets in a probate estate, the longer and more complicated the probate process.

How to avoid probate in Florida

The best way to avoid probate is to have a solid estate plan in place. As previously indicated, the less probate assets you have, the smaller the probate process will be – to the point that probate can essentially be avoided. Again, the only way to avoid probate is to work with our experienced Palm Beach probate attorneys who proactively craft an appropriate estate plan. Some necessary estate planning steps include:

• Establishing a Revocable Trust to Hold Assets. A revocable trust is a legal entity, established during your lifetime, which is treated as a separate entity from a probate standpoint. Therefore, assets in the name of your revocable trust will not be considered probate assets. Your trust documents can have specific instructions, just like a last will and testament, for how your assets should be distributed upon your death or disability. Additionally, your revocable trust can become irrevocable upon your death or disability, with a pre-selected Trustee appointed to manage your trust and assets.
• Decide How to Distribute Your Assets. You may need to move many of your assets into the name of your trust. But you should also determine which assets have beneficiary designation forms and then make sure those forms are kept current. You may also consider transferring certain assets which you do not need prior to your death. For instance, you may want to transfer a vehicle to your child, and you are not currently using the vehicle. Does it make sense, for both you and your child, to distribute that asset now?
• Have a Back-up Plan and Review Regularly. You will likely acquire new assets after your initial estate plan is finalized – perhaps even as the result of an inheritance. If there are assets which you forget to include in your trust, or for which there is no designated beneficiary, it is still advisable to have a will in place which directs those assets quickly through the probate process and to your trust. In any event, you should review your estate plan with an experienced estate planning attorney at least once a year. A seemingly mundane event may have harmful estate planning repercussions which our knowledgeable counsel will recognize. Major life events affecting you or a loved one such as death, the birth of a child, marriage, or divorce should prompt a quick review of your estate plan.

Contact experienced Palm Beach Gardens probate attorneys today for a free consultation

Clients throughout South Florida rely on our reputable probate attorneys to serve as their estate planning counsel. We assist you in forming a solid estate plan and avoiding probate.

Our team of West Palm Beach Probate lawyers serve Palm Beach Gardens, Jupiter, North Palm Beach, Palm Beach, Juno Beach, Singer Island, Tequesta, Hobe Sound, Lake Park, and other areas throughout South Florida. To schedule a free consultation, call 561-721-0600 or contact us online.