What are the different ways my estate could pass to my loved ones?
In general, there are six different ways in which your estate will transfer at death. They are as follows: by Will, Intestacy, Beneficiary Designation, Joint Tenancy, Revocable Living Trust, and Irrevocable Trust. The first two methods are likely to trigger probate. Intestacy, Beneficiary Designation, and Joint Tenancy are the easiest to implement but oftentimes result in unintended dispositions and/or tax consequences. Revocable Living Trusts, on the other hand, are extremely efficient and fairly simple when you create such with an experienced estate planning attorney. We will examine each of these methods in the next few sections. Or if you prefer, simply click here to have us call you and explain all this and more.
