How to Avoid Probate with an Estate Planner in Draper, Utah

Before you pass away, you can take steps to help your estate avoid probate. Writing a will and naming an executor is only a starting point to avoid an expensive and lengthy probate process. In addition to wills, there are more effective estate planning tools to prevent your estate from going to the probate court. To avoid probate in Draper, Utah, it is important to understand how the probate process works and Utah laws.

It is advisable to consult an experienced estate planning attorney in Draper, Utah, to help you   identify your estate planning priorities   and create a customized plan that minimizes estate taxes and protects your heirs and beneficiaries from potential creditor claims.

What is probate?

Probate is the court-supervised process used to settle the estate of someone who has passed away. It involves proving the validity of the will, paying off any debts the deceased owed, and distributing their property to the heirs.

While the term “probate” typically refers to the probate court process for validating a will, in Utah,  the term is used the same way whether the deceased had a will or not. In either case, the court oversees the administration of the deceased’s estate.

Probate without a will

If you or a loved one passes away without a will, or if someone challenges the validity of the will, the estate is considered “intestate.” In this case, the probate process will still occur, but instead of following the instructions in a will, the court will distribute the assets according to Utah’s state laws on intestacy. These laws dictate how the property is divided among the deceased’s heirs.

Probate with a will

If you or your loved ones pass away with a will in place, your will provides clear instructions for how your assets should be divided. If you’ve named an executor, they will begin the probate process by submitting your will to the probate court.

The court’s role in probate is to confirm the validity of the will and ensure it reflects your true wishes. Once the will is authenticated, the court will formally appoint the executor, giving them the authority to manage the estate. The executor then distributes the assets to the heirs according to the terms outlined in the will.

Formal or Informal Probate?

Many are not aware that there are different ways to conduct probate. Formal probate is closely supervised by the court and can be very costly in time and resources but helps resolve conflicts that may exist. Under the Utah code, informal probate may be used for smaller estates, which simplifies the process. If an individual dies, anyone may file a probate case, and probate will be necessary for asset distribution, including real property and personal property.

4 ways to avoid Utah probate

Revocable Living Trusts

The most effective way to avoid probate is to create an estate plan that includes a living trust. When property is held in a trust, it can pass to the beneficiary without going through probate. This means that upon the owner’s death, the trustee can distribute assets directly, eliminating the need for the probate court to appoint a personal representative.

Learn how a   living trust in Utah   can help protect your assets.

Joint Tenancy With Right of Survivorship

Using joint tenants for property ownership and ensuring small estate provisions are in place can help avoid lengthy probate procedures. However, joint tenancy can create other tax issues as well as unintended inheritance conflicts. 

Payable-On-Death Designations for Bank Accounts

Payable-On-Death (POD) designations for bank accounts are another tool in estate planning, allowing individuals to ensure their valuable property passes directly to beneficiaries without probate. Upon the death of the account holder, the beneficiary must provide a death certificate and may need to file affidavit documentation to claim the funds. This process helps avoid probate costs and allows for quick access to assets. POD designations can be part of an estate planning strategy for efficient management of property and minimizing estate tax.

Transfer-On-Death Deeds for Real Estate

In Utah, you can use a transfer-on-death (TOD) deed, also known as a beneficiary deed, to pass on real estate to a beneficiary without going through probate. You sign and record the deed while you’re still alive, but it only takes effect upon your death (Utah Uniform Probate Code §§ 75-6-401).

How a Watts Law estate planning attorney in Draper can help you

A solid estate plan can save your loved ones from the time-consuming and expensive probate process. If you don’t have an estate plan, I’m here to help you. 

With over two decades of experience in estate planning law, I have assisted countless clients in Draper, Utah in creating revocable trusts.   Contact me today for a free consultation   to discuss your estate planning or probate needs.