Matthew N. Schmidt
One of the biggest misconceptions about estate planning law is that having a Will avoids the need for probate at the time of your death. When your assets pass to others through a Will, it involves the probate process. There are fees and court costs associated with having to probate property you own upon your death, which reduces the value of the assets your children or loved ones will inherit. In addition, probate can be a complicated and lengthy process, sometimes taking over a year to complete.
For instance, if you currently own your residence in your individual name or your and your spouse’s names, upon your death or the death of you and your spouse, your residence would not pass to your children or whomever you wish to receive it without going through probate court, even if you have a Will.
Missouri has some of the best nonprobate transfer laws in the nation. By utilizing Missouri’s nonprobate transfer laws, we can help you avoid a lengthy probate process and help you leave your property to those you wish.
Call us today to set up a time to discuss how utilizing nonprobate transfer laws could benefit you and avoid the need to probate your residence, real property, financial accounts, vehicles, and other assets. While nonprobate transfers are a good way to avoid the difficulties of probate, they are not a substitute for a comprehensive estate plan. Nonprobate transfers are just one way we can help you achieve your estate planning goals.