Many people incorporate the estate planning process early on to avoid probate. That is because matters that are processed through probate, such as anything inside your estate outside of annuities, retirement accounts, life insurance, jointly owned property and anything you place inside a trust or another similar vehicle, is viewable via the public record.
The living trust is the most commonly used way to avoid probate and it is a method many people find very valuable for adding a layer of privacy. Many estates are subject to probate partly, while others will partly avoid probate.
The key question to ask is how much of your estate should effectively avoid probate.
The probate situation in every location in which you own property should be carefully considered because the bulk of your estate will be subject to probate in the state in which you are domiciled or a resident. However, real estate is probated in its actual location. Your estate could even be subject to probate in numerous locations if you are not careful.
Scheduling a consultation with an estate planning attorney who can tell you more about how the probate process works in your state is extremely helpful for articulating your individual plan design.
