Home| Course Catalog| Career Planning

Free Online Course on Personal Finance

Site Search

Ways to Avoid Probate

There are a number of ways to avoid probate. You can avoid probate in the following ways:

  • Have joint ownership: There are several different options for joint ownership of property which avoid probate. You can have tenancy by the entirety, joint tenancy with the right of survivorship, tenancy in common (where the will controls distribution of the deceased’s share of the property), or community property (where state law and a will control distribution of the property). Each of these methods does not require probate for the transfer of titled property.
  • Make gifts (with the exception of life insurance policies): You can take advantage of unlimited gift-tax exclusions on payments made for medical and educational expenses. However, you must make the payments directly to the hospital or college. Money donated to charities is also eligible for gift-tax exclusions.
  • Name beneficiaries in contracts such as life insurance: In most cases, ownership of contracts such as life insurance passes to the beneficiaries upon death of the owner without the contract having to be probated.
  • Use trusts: Two types of trusts allow you to avoid probate: A living trust, which takes effect before death, and a testamentary trust, which takes effect upon death.


Our Network Of Sites:
Apply 4 Admissions.com              | A2ZColleges.com  | OpenLearningWorld.com  | Totaram.com
Anatomy Colleges.com                | Anesthesiology Schools.com  | Architecture Colleges.com | Audiology Schools.com
Cardiology Colleges.com            | Computer Science Colleges.com| Computer Science Schools.com| Dermatology Schools.com
Epidemiology Schools.com         | Gastroenterology Schools.com  | Hematology Schools.com     | Immunology Schools.com
IT Colleges.com                | Kinesiology Schools.com  | Language Colleges.com  | Music Colleges.com
Nephrology Schools.com             | Neurology Schools.com  | Neurosurgery Schools.com | Obstetrics Schools.com
Oncology Schools.com    | Ophthalmology Schools.com | Orthopedics Schools.com       | Osteopathy Schools.com
Otolaryngology Schools.com| Pathology Schools.com  | Pediatrics Schools.com  | Physical Therapy Colleges.com
Plastic Surgery Schools.com| Podiatry Schools.com  | Psychiatry Schools.com   | Pulmonary Schools.com 
Radiology Schools.com| Sports Medicine Schools.com| Surgery Schools.com | Toxicology Schools.com
US Law Colleges.com| US Med Schools.com | US Dental Schools.com

About Us Terms of Use | Contact Us | Partner with Us | Press Release | Sitemap | Disclaimer | Privacy Policy

©1999-2011 OpenLearningWorld . com - All Rights Reserved