Last week, we discussed how certain assets can bypass the probate process. I wanted to follow up on that post because bypassing probate by adding co-owners to accounts, or “payable on death” designations, can certainly accomplish that goal. However, doing so may expose your current assets, or a beneficiary’s inheritance, to certain outside forces that could wipe out those assets.
Read MoreBased on experience, “probate” can be a dirty word. Poor communication, seemingly burdensome court procedures, and domineering executors are but a few reasons why so many have such desire to avoid the process altogether.
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