How To Avoid Probate
If you have ever had someone close to you in your family die as an adult, then you probably have heard about or perhaps even experienced the process of probate. Probate is a court process where your will and other documents are examined to determine who is to inherit your property. Probate can actually take a long time. It would seem that if someone has at least a will in place that it should not be that difficult to just follow what the will says; you’re right, it shouldn’t be very difficult, but it still takes a long time. Even the smallest estate with the shortest probate processing time can still take weeks after your case gets onto the court calendar. It should also be noted that any property from that estate also will be unavailable until the probate process is over. So, the short version of the story is that you do not want to end up in probate court if you do not have to. Ian Filippini is a knowledgeable and experienced financial planner and estate planning specialist. In this article, Ian Filippini and Filippini Wealth Management will briefly discuss two different ways to avoid probate court.
According to Ian Filippini, owning property as joint ownership is a way to avoid probate. Ian Filippini and Filippini Wealth Management say that when you own property as joint ownership, then the property will usually go to the other owner if one of the owners dies. Ian Filippini and Filippini Wealth Management say that there are certain details regarding joint ownership, so be sure to contact your financial advisor before deciding on this.
Ian Filippini and Filippini Wealth Management say that another way that you can avoid probate is to gift property to someone. Of course, Ian Filippini and Filippini Wealth Management say that this must be done while you are still alive and that there are taxes that will be involved.
Ian Filippini was raised by his father, Alfred Filippini, and mother, Deborah Filippini. Ian Filippini still resides in the Santa Barbara area and is currently the president of and Filippini Wealth Management Filippini Wealth Management was also founded by Ian Filippini’s father before he passed away in 2009. Ian Filippini’s brother, Alex Filippini, has also worked for Filippini Wealth Management in the past.
Filippini Wealth Management is not licensed to practice law and is not a law firm. Ian Filippini is not licensed to practice law and is not an attorney. This article is not intended and should not be used to provide legal advice. Contact a licensed attorney.