It's True... A Will Won't Avoid Probate!
Congratulations, you have a Last Will and Testament! You’re feeling pretty good about yourself, aren’t you? I mean, after all, you’re one of the few Americans who has a Will, and that’s a big deal isn’t it? Quick question for you though… Do you know what it actually does?
Ask ten random people on the street whether having a Last Will keeps your estate out of probate, and nine will respond, “Yes, of course, that’s why I have a Will.” Spoiler alert… those nine people would be dead wrong, pardon the pun. (By the way, probate requires an attorney, is very expensive and takes a long time.) HAVING A LAST WILL DOES NOT AVOID PROBATE!!!
So what’s the solution, Ross? I’m so glad you asked. Most often the best way to leave your assets to family and charities, and avoid probate altogether, is a revocable trust. A revocable trust works like a Last Will in that you can give your “stuff” to your family the way you want; BUT a BIG DIFFERENCE is that assets held in trust can be transferred to your family without court approval at your death. Presto! Problem solved!
If you’re interested in a free consultation to find out how I can help your family avoid the significant cost and hassle of probate at your death, please contact me at (813) 244-7758 or Ross@RossSpanoLaw.com.