What legal document do I need for my children to take care of our property without going to probate court?
So if I die in an accident, what would be a legal document for my son and daughter to use to take care of our real estate property without going to probate court?
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Your instinct to prepare legal documents before your trip is prudent, and creating a revocable living trust is one of the most effective tools under estate-planning law to avoid probate court.
A trust allows you to transfer ownership of your assets — such as real estate, bank accounts, and vehicles — into the name of the trust during your lifetime. You would serve as the initial trustee and beneficiary, with your children designated as successor trustees and beneficiaries upon your death.
Unlike a will, which must go through probate court, a properly funded living trust allows your successor trustees to immediately step in and manage property without court involvement. They can continue paying bills, maintaining or selling property, and distributing assets according to your instructions.
It is important, however, to formally retitle your assets into the trust.
In addition to a trust, you should also execute a durable power of attorney and advance healthcare directive.
- A durable POA lets someone handle financial matters if you become incapacitated.
- A healthcare directive covers medical decisions.
- These documents help avoid guardianship or conservatorship.
Given your travel plans, meet with an estate planning attorney right away to prepare everything and ensure the documents meet your state’s requirements.
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So if I die in an accident, what would be a legal document for my son and daughter to use to take care of our real estate property without going to probate court?
Lexi, Chatbot
I understand the importance of planning for your family’s future. Have you already created a will or trust to outline your wishes regarding your real estate property?
No, not yet — was going to do that along with this.
Lexi, Chatbot
Are you looking to create a specific legal document, such as a living trust, to help your son and daughter avoid probate court in the event of your passing?
Yes, planning a trip and flying long distance, want to have things in order in case anything happens.
Lexi, Chatbot
Is there anything else the lawyer should know before I connect you? Rest assured they’ll be able to help with your estate planning.
No, not really — we just want to line up some things before we set out on a trip, to take care of property, bank accounts, retirement accounts, vehicles so they don’t have to go to probate court. I need to set up power of attorney in another case.
Legal Eagle
Good afternoon and welcome to AskALawyer. Please give me a moment to review your question.
Legal Eagle
Your instinct to prepare legal documents before your trip is prudent, and creating a revocable living trust is one of the most effective tools under estate-planning law to avoid probate court.
A trust allows you to transfer ownership of your assets — such as real estate, bank accounts, and vehicles — into the name of the trust during your lifetime. You would serve as the initial trustee and beneficiary, with your children designated as successor trustees and beneficiaries upon your death.
Unlike a will, which must go through probate court, a properly funded living trust allows your successor trustees to immediately step in and manage property without court involvement. They can continue paying bills, maintaining or selling property, and distributing assets according to your instructions.
It is important, however, to formally retitle your assets into the trust.
In addition to a trust, you should also execute a durable power of attorney and advance healthcare directive.
- A durable POA lets someone handle financial matters if you become incapacitated.
- A healthcare directive covers medical decisions.
- These documents help avoid guardianship or conservatorship.
Given your travel plans, meet with an estate planning attorney right away to prepare everything and ensure the documents meet your state’s requirements.
Thank you.
Legal Eagle
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