When you die, the executor you name in your will has the responsibility of finalizing your estate and distributing your assets. Probate can take several months or years to settle if beneficiaries cannot be located or someone contests the will. However, with help from probate lawyers in Poulsbo WA, your family can get the assets that you’ve left them right away.
Leaving Assets in Trusts
In Pennsylvania, you can leave assets such as money, real estate, and cars in a revocable living trust to avoid probate. A trust administration lawyer can manage the living trust to make sure that everything goes smoothly after your death.
Designation of Beneficiaries
Another way to avoid probate is to leave bank accounts or securities to beneficiaries who will receive them when you die. For bank accounts, such as savings or checking accounts, you can fill out a “payable on death” form designating who will get the money.
The form for securities such as bonds or stocks is called “transfer on death.” Probate lawyers close to Poulsbo WA, can help make sure that you arrange for your family to receive money or real estate right away so they don’t have to worry about how the bills will get paid.
An attorney who writes wills can help you name a power of attorney to make medical decisions for you if you become incapacitated. Living wills state your wishes if you cannot make them yourself or they can give the person you designate decision-making powers. If you’re alive, but cannot make your own decisions, then you should name a power of attorney.
Probate lawyers in towns near to Poulsbo WA, can show you how to avoid probate and leave your assets to the people you want to have them.