money guidance and how to get rich_107

_{There are many ways to avoid probate, and you'd be best served by}

_{reading up on the topic and then consulting a professional. In brief,}

_{though, one way to avoid probate is through a living trust or a life}

_{estate trust. With a trust, you're actually formally transferring the title}

_{over it while you're alive, but it technically belongs to the trust. Once}

_{you die, a trustee passes it on to your specified heirs. This tends to}

_{be a fairly quick and simple process.}

_{Also, many states permit a certain amount of property to be inherited}

_{without going through probate. In some states the limit is $100,000,}

_{for example.}

_{Other possibilities include "payable on death" designations on bank}

_{accounts (where the contents of the account pass immediately to the}

_{designated beneficiary on your death) and retirement accounts such}

_{as IRAs and 401(k)s (where you also specify beneficiaries). Thanks to}

_{the Uniform Transfer-on-Death Securities Registration Act, most states}

_{now permit securities held by the likes of brokerages to pass to beneficiaries}

_{without going through probate.}