The best way to avoid probate


The best way to avoid probate is to come to one our avoiding probate workshops in Orlando.  Call 407-808-8398 to reserve you seat.


Chrissy: Tom, the text question is what is the best way to avoid probate?

Attorney Tom Olsen: First of all, some kinds of assets don’t go through probate; life insurance, IRAs, retirement accounts, annuities. Anywhere where we get to name a beneficiary, you can assume that it is not going through probate, as long as you’ve named a primary beneficiary and a contingent beneficiary. Then cars, boats, motor homes, vehicles in Florida do not go through probate. Checking, savings, CDs, investment, non-IRA accounts, easy to avoid probate on those, by keeping those accounts in your name, or if you’re a married couple, your names, but making them POD Payable on Death to your kids.

If you make your bank accounts POD for your kids and you pass away, the only thing they need to do is to show to the bank or Credit Union your death certificate, and they will turn the money over to them. To make your accounts POD, you do not do with me, you don’t do it in the will, you do it at the bank or the credit union. They will give you a form to fill out.

Then people say, “Tom that’s great. I got some kinds of assets not going through probate like life insurance IRAs, you’ve told me how to avoid probate on my checking, savings and CDs only. The other thing I own is my home or my home at a condo at the beach.”

Hey, the way to avoid probate on those is to do an enhanced life estate deed also known as a ladybird deed that we can do for you. We have specific booklets on ladybird deeds. If we take these steps, what are we talking about? We’re talking about making things simple, easy and inexpensive for your kids when you pass away. That’s what most people want. We want to help you do that. You can come to our workshops or we can e-mail you a booklet or make an appointment to come see us. We’ll go through those things with you. That starts with calling or texting Chrissy anytime. 407 808 8398.

Chrissy: A piece of mind for you and making things simple for your kids or loved ones. That’s what it’s about. That’s what we love to educate people on.