What is Probate? How an Estate Planning Attorney Can Help You Avoid It

What is Probate?

Probate is the court process by which a Judge gives your Personal Representative or Executor the legal authority to distribute the assets of your estate. This distribution is carried out either according to the instructions in your Will or, if no Will exists, under North Dakota Statutes.

What Assets Go Through Probate?

Not all assets are subject to probate. Probate-able assets are those that:

• Do not have a named beneficiary on file
• Are not held in a trust
• Are not held in joint tenancy

Assets with designated beneficiaries (such as life insurance policies, retirement accounts, and payable-on-death accounts) and assets properly placed in a trust generally pass outside of probate.

How Can an Estate Planning Attorney Help You Avoid Probate?

One of the most sought-after goals for our clients is a smooth transition of their estate upon their passing - and avoiding the probate process is one of the best methods for accomplishing that goal. An estate planning attorney can help you:

• Establish a trust to hold your assets so they transfer directly to your beneficiaries without court involvement
• Update beneficiary designations on financial accounts, retirement plans, and insurance policies
• Title assets appropriately, such as placing property in joint tenancy or transferring ownership to a trust
• Draft or update your Will to clearly reflect your wishes and minimize disputes

Every estate is different, and the right strategy depends on your specific assets, family situation, and goals. That is why a personalized consultation is so important.

Let’s Talk About Your Estate Plan

Call Maverick Law Group at 701-852-5224 to set up a consultation with one of our estate planning attorneys. We are here to help you plan for a smooth, efficient transition of your estate.