Tips You Need When It Comes to Ancillary Probate

When creating an estate plan, many people prepare their plans with the goal of avoiding probate in mind. Probate is the legal process through which the assets of a deceased person are distributed to the appropriate beneficiaries. Unfortunately, this can be a lengthy and expensive process, and one that can usually be avoided with careful preparation and planning.

Did you know, however, that there is a specific type of probate called ancillary probate that your estate may still be subject to? To better inform you about this important area of estate planning, let us share with you a few tips you need when it comes to ancillary probate.

First, what exactly is ancillary probate? Ancillary probate is a specific type of probate proceeding that may be required in addition to a state probate proceeding. Ancillary probate specifically applies if you own real property or other assets that are attached in a state outside of your home state. It is important to know that even if you have created a last will and testament, any property you own in another state may not be protected. This is because a last will and testament only covers your in-state property. To help ensure your property is protected and avoid ancillary probate, we encourage you to discuss your specific circumstances with an experienced estate planning attorney.

Second, did you know that certain trust agreements are valid across state lines? Unlike a last will and testament, there are various types of trust agreements that are effective across state lines. As long as your property outside of Florida is titled into the trust agreement, the trust can govern your out-of-state property and help keep your estate outside of ancillary probate proceedings.

Lastly, there is no better alternative to avoiding ancillary probate than speaking with an estate planning attorney who is familiar with the laws of your state. The laws concerning ancillary probate differ from state-to-state. An experienced estate planning attorney can help ensure the proper protections are in place for your property, and can provide you with some peace of mind. Do not forget, however, to inform your estate planning attorney if you acquire any new property in another state or if you are contemplating a move in the near future.

These are just a few tips about ancillary probate. We know that this topic may raise more questions than it answers, as it is a particularly complex topic that can be challenging to understand. We encourage you and your loved ones not to wait to find the answers you need.

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