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4. Avoid Probate if Desired, or Use Probate Strategically

Probate is the legal process by which an asset’s title is transferred after an individual’s death. One concern that many individuals have regarding probate is that the records of the assets, including information about who owns the assets, are open to public view. Anyone who reviews the public records gains access to the information.

Probate is not necessarily bad, and it is necessary to pass on an asset’s title. However, if it is important that information about ownership not be available to the public, advance planning and the use of various estate planning tools can be helpful in avoiding probate.

 



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