How To Avoid Probate In Maryland

The process of taking a will through probate costs your estate both a great deal of time and money. During the time spent waiting for the court to rule on your will, your heirs could already have been in possession of the property. Instead, your property and legacy are now tied up in a lengthy and expensive court process. You may be seeking answers on how to avoid this probate process.

The Law Offices of Dwight W. Clark, LLC in Columbia, Maryland, would be glad to discuss your estate planning options with you. If you are looking for somebody to explain how to avoid probate and plan your estate accordingly, please call us at 888-523-6081 to schedule a consultation.

Helping You With Strategies To Save Time And Money

There are several types of instruments that can help your estate avoid probate. While not all of these documents may apply to you, we can help you decide which ones will work best for you and your estate planning needs.

  • Joint ownership is one form of possession to help you avoid probate. The name for this dual possession of property is joint tenancy with a right of survivorship. When one owner dies, the property passes from the owner who dies to the other owner without going through the probate process.
  • If you create a revocable living trust, this is also a way to pass along assets without the probate court’s approval. This document allows you to appoint somebody to distribute your assets and maintain control over them following your death.
  • A transfer on death or payable on death account allows you to pass along particular types of assets to your heirs without probate court approval. These documents may include items such as your stocks or bank account funds.
  • Life Insurance allows the transfer of wealth without probate.

Some of these documents may also help your estate avoid federal estate taxes. However, you should receive assistance from an experienced attorney when drafting these documents to ensure that they are valid and that they comply with all the necessary legal rules and regulations surrounding estate planning.

We Can Help Secure Your Estate

The lawyers at the Law Offices of Dwight W. Clark, LLC understand the steps you need to take to make your estate secure. We also work to do succession planning for families that have a family business partnership. For more information on how to avoid probate, contact