Is Probate Avoidance Possible? - PowerPoint PPT Presentation

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Is Probate Avoidance Possible?

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It is possible to arrange for a fast and efficient transfer of assets to your loved ones outside of probate. Learn more about probate avoidance in Reno Nevada from this presentation. – PowerPoint PPT presentation

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Title: Is Probate Avoidance Possible?


1
IS PROBATE AVOIDANCE POSSIBLE?
2
Postmortem Realities
3
Estate planning involves executing certain
legally binding documents
4
However, the documents only provide instructions
5
People must act after your passing to make your
wishes a reality
6
Last Wills Probate
7
You may assume that you should use a last will to
arrange for the transfer of your assets after you
die
8
If you go this route, property will not be
distributed to the heirs until the estate has
been probated
9
This is assuming your estate is worth more than
20,000
10
Executor or Executrix
11
The person who administers the estate is called
the executor or executrix. The Court will refer
to them as a Personal Representative.
12
  • A male estate administrator is an executor
  • a female who assumes this role is called an
    executrix

13
If you die using a will to state your final
wishes, the executor or executrix admits the will
to probate
14
Probate Is Time Consuming
15
While probate provides certain protections, there
are some negatives to consider
16
One of them is the fact that probate IS
TIME-CONSUMING
17
  • It can take months or even years
  • for probate to run its course

18
The heirs to the estate don't receive their
inheritances until the estate has been probated
and closed
19
Probate Can Be Expensive
20
Probate is not free, there are innumerable
expenses that can pile up
21
These would include court costs, publication
costs, attorney fees, accounting fees,
liquidation charges, and appraisal costs
22
All of the money that is spent during probate
could have gone to the heirs under different
circumstances
23
Can Probate Be Avoided?
24
When you hear about all of the pitfalls that go
along with the probate process, you may wonder if
it can be avoided
25
  • THE ANSWER IS YES,
  • a number of different probate avoidance
    strategies exist

26
It is possible to arrange for a fast and
efficient transfer of assets to your loved ones
outside of probate
27
Probate Avoidance Consultation
28
If you live in Northern Nevada we invite you to
contact our firm to schedule a free consultation
29
We have a thorough understanding of the probate
process here in northern Nevada, and we can
assist you as you explore your options
30
Our firm offers FREE WEALTH PRESERVATION
CONSULTATIONS
31
If you live in northern Nevada give us a call at
775-823-WILL to make an appointment
32
www.Wealth-Counselors.com
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