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Probate Attorney in Scottsdale, AZ

How to Avoid Probate in Arizona

The probate process can be expensive and time consuming and it delays your assets and property from being directly passed on to your heirs and beneficiaries. This process is predominantly clerical, handled by mail, with a few court appearances by your attorney. Probate can be financially draining for some, as it requires attorney fees, executor fees, appraiser fees and several other court costs. Avoiding probate however, is not impossible- with the proper planning it can be done. Scottsdale estate planning attorney Grant McKeehan is knowledgeable on how to effectively keep your property from passing through probate court. He can help save your loved ones the headache and extra expenses that probate entails. Call Grant N. McKeehan, PLC today if you would like to learn how to avoid the probate process.

Tricks for Avoiding Probate

There are several ways to avoid the probate process, which can save you both time and money. The most popular ways of avoiding probate include:

  • Revocable living trust
  • Pay-on-death accounts
  • Joint ownership of property
  • Gifting property

Revocable Living Trust

A revocable living trust was actually invented to help people find ways around probate. By compiling your property into a trust, it is then seen as trust property and is no longer considered to be part of your probate estate. Within your will it is vital that you appoint a trustee to manage your finances and property. They will be able to pass on the trust property to your friends and loved one in a quick and efficient manner without having to bother with probate. This type of trust document is comparable to a will in that you can appoint beneficiaries to inherit your property.

Payable-On-Death Accounts

Another way to effectively avoid probate is to turn your bank accounts or retirement accounts into a payable-on-death account. To do this you simply have to fill out a form that states who you would like that money to go to after you pass. This way, the money goes directly to the appointed beneficiary without passing through probate first. The transfer of accounts does not take affect however, until after you pass.

Joint Ownership

By having your property under joint ownership, you can also save your estate from going through probate. This way after the first property owner dies, the tile of the property remains under the joint owner. There are three different ways of doing this, you can seek:

  • Joint tenancy with right of survivorship
  • Joint tenancy by the entirety
  • Community property with right of survivorship

Speak to Attorney McKeehan today to learn which joint ownership option would be best for your particular case.

Gifting Property

Another simple way to avoid probate is by gifting your assets or property- simply put, if you don't own it when you pass, then there is no need for it to pass through probate. The majority of estate gifts are also exempt from federal gift tax. It is important to remember that the larger the assets that pass through probate, the higher the expenses will be. That is why it is wise to keep assets of high monetary value outside of the probate court.

Contact a Scottsdale probate lawyer today!

Need a lawyer to help you avoid probate in Scottsdale, AZ? By speaking with Attorney McKeehan you can learn how to plan out your estate in a tactful way in order to avoid the costs and inconvenience of probate. Grant McKeehan has a deep understanding on estate planning and he is familiar with all the tricks of the trade. Let his experience work for you! If you are wondering how to plan in order to avoid probate, contact a Scottsdale probate attorney from Grant N. McKeehan, PLC today!

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Grant N. McKeehan, PLC - Scottsdale Estate Planning Attorney
Located at 4300 North Miller Road, Suite 220 Scottsdale, AZ 85251. View Map
Phone: (888) 913-8943 | Local Phone: (602) 791-6174.