Legacy Speaks

(201) 743-9354

3 Ways to leave assets to you Loved Ones that avoid Probate

Posted by Ada Davis | Jul 29, 2020 | 0 Comments

To avoid the probate process entirely, you could jointly hold property with your heirs- with Rights of Survivorship. When property is held jointly with Rights of Survivorship, your share is immediately transferred to the surviving owner upon your passing.

You could also choose to hold bank accounts with Payable on Death or In Trust For designations. With Payable on Death or In Trust For designations, the bank will pay out the proceeds of such an account directly to the designated individual.

Further, investing in Life Insurance policies or other financial assets with beneficiary designations, ensure that your loved ones can receive the proceeds of that life insurance or retirement account without having to go through probate.

About the Author

Ada Davis

Counselor. Teacher. Advocate. Attorney Ada A. Davis is a graduate of Georgetown University Law Center. For more than fifteen years she has practiced law in the New Jersey and New York areas, including working as an associate at two big law firms in New York, NY. For the past nine years she has m...

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Help us help you!

Davis Law Office is passionate about helping you transform your family's future. Contact us now to get started creating a legacy you can be proud of.

Contact Us Today

The Legacy Attorney is committed to answering your questions about Estate planning needs in Jersey City, New Jersey.

We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.

Menu