I frequently get questions from my clients about how to avoid probate by retitling property. If your desire is to avoid probate, a properly funded revocable trust can do that. However, certain types of property ownership can also avoid probate. There are three categories of property ownership – property titled in your name, in joint names with others, or by contract. Below is a summary of each type of property ownership and whether or not you can use it to avoid probate.
When working with a wills and trusts administration lawyer here in Montgomery or Prince George’s County, there are certain things you probably already have in mind. For example, you may want to set up trusts to avoid tax pitfalls or to create a will, which clearly outlines what is to happen to your property upon … Read more