Probate Avoidance

Probate is the process of being appointed and then serving as the “Executor” under a Last Will and Testament, or as the “Administrator” for a loved one who has passed away without a Will. In some jurisdictions, such as Florida, the probate process can be extremely time-consuming and expensive. While New Jersey “common form” probate is much more informal and cost effective, other considerations, such as the desire to avoid making your last wishes a matter of public record or the desire to avoid having assets “frozen” by the State, may warrant taking steps to avoid the probate process. Since the alternatives to probateĀ  may be more costly and require some upfront “leg work”, however, proper planning starts with a cost/benefit analysis to determine if probate avoidance is right for you.

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