Law Offices of Frye & Vazquez, P.L.
Call Today. 305-508-5749 | 877-421-5473

Right and wrong ways to avoid probate

We at the Law Offices of Frye & Vazquez understand why it is desirable to avoid probate if possible. The probate process in Florida can be complicated, expensive and much more public than most families would prefer. There are a number of available options to help you and your heirs avoid probate, but some are more efficient than others. 

According to FindLaw, two methods of probate avoidance include naming a beneficiary on an account and owning assets jointly. A number of different accounts, including a pay-on-death account, can have a beneficiary named, and in a joint ownership situation, the right of survivorship ensures that upon the death of one co-owner, the other automatically inherits the property. However, these methods can have unanticipated pitfalls related to exposure to creditors, inflexible distribution and tax inefficiencies. 

One of the most popular ways of avoiding probate is to create a living trust. While you are alive, you retain control of the property, and upon your death, a successor trustee of your choosing assumes administration of the trust, transferring the property to your beneficiaries. This allows your surviving loved ones access to their inheritance according to the schedule you choose regardless of how long the probate process takes. A living trust maintains family privacy, the court does not interfere in the process of transferring assets and your family members can minimize the delays and expenses associated with the probate process. 

Distribution of assets becomes simplified with a living trust. More information about avoiding probate is available on our website. 

 

No Comments

Leave a comment
Comment Information

What Our Clients Are Saying

  • I have known and worked with Austin Frye and his team since 2008. In that time he has helped serve both my business and personal legal planning needs. From guidance on reviewing and keeping shareholder and state documentation up to date... - Robert
  • It is difficult enough to cope with the emotional challenges of closing a parent's estate, and when you are also faced with the issue of your parents having insufficient documentation, and being remote from your siblings… - Zara L.
  • Austin Frye provided legal services to my father while alive and to his estate after his death; when showing the EP docs his firm prepared to other professionals (lawyers, financial advisors, accountants)… - Mark S
  • I've been a client of Austin Frye's for over 10 years. In that time, he's handled my estate/trust planning and asset protection as well as complicated business deals. - Leslie
  • Mr. Frye recently set up a complicated special needs trust for my son and, as usual, did a great job explaining it and in putting our minds at ease about our son's future well-being. - Dr. Howard
Read More...
  • NYSBA
  • Massachusetts Bar Association
  • The Florida Bar 1950
  • CFP
  • Florida Bar Elder Law Member
  • Academy Of Florida Elder Law Attorneys
  • Florida bar Business law Member
  • NAELA National Academy of Elder Law Attorneys, Inc.
Email Us For a Response

Contact Us For Personal Attention To Your Legal Matter

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Location

Get In Touch With Us
20900 W. Dixie Highway
Miami, FL 33180

Toll Free: 877-421-5473
Phone: 305-508-5749
Map & Directions