All the Ways You Can (Legally) Avoid Probate

You are receiving this email because you signed up to receive Bob Carlson's free e-letter Retirement Watch Weekly, or you purchased a product or service from its publisher, Eagle Financial Publications. [Carlson's Retirement Watch Weekly] [Retirement Reports](www.retirementwatch.com/retirement-resources/) [Retirement Articles](www.retirementwatch.com/retirement-articles/) Brought to you by Eagle Financial Publications All the Ways You Can (Legally) Avoid Probate by Bob Carlson Editor, [Retirement Watch]( 03/24/2024 SPONSORED [4 Monthly Dividends to Buy NOW... paying up to 9.5%!]( [image]( I'm tired of the so-called "experts" and endless media reports that say you need a million bucks to retire comfortably. I've got a simple strategy that's helping thousands of readers retire on a lot less... and it doesn't involve trading options, betting on risky penny stocks or playing crypto games. We're talking about a fully paid-for retirement, with an income stream that outstrips the average wage of the typical working American, on as little as just $500k or $600K. [Click here for my free retirement report, including 4 incredible monthly payers to get started!]( [CLICK HERE...]( Fellow Investor, [Bob Carlson]Avoiding probate often is a major estate planning goal, but most people don’t learn all the strategies available. In probate, a deceased person’s estate is administered and distributed according to state and local law. The process ensures debts are paid and legal title to assets passes as the decedent wanted, or according to state law if the decedent didn’t have a valid will. There are good reasons people want to avoid probate. Probate can tie up the estate for months or longer and can cause the estate to incur extra expenses. While some states and localities streamlined the process, at least for less valuable estates, for most estates probate still has delays plus extra expenses and work. The estate administrator usually is required to appear before the court or a clerk one or more times unless a local attorney is hired to manage the process. Also, a probated estate is a public record anyone can review. Many people don’t want others to know the details of their estate and how it was distributed. Fortunately, you can structure the estate so that all or most of it passes to your loved ones without probate. Generally, assets whose title passes to the next owner by a contract or operation of law are exempt from probate. The living trust is the most well-known way to avoid probate. All assets owned by the trust are distributed to new owners as described in the trust agreement. The probate court isn’t involved. Retirement accounts, such as IRAs and 401(k)s, avoid probate. The beneficiary designation form on file with the account administrator or trustee determines who inherits them. Your will and the probate court usually aren’t involved. Life insurance benefits and annuities are distributed to beneficiaries named in the contract. The insurance company pays the benefits after receiving the death certificate and other documents. There’s no involvement of the probate court, unless the estate is a beneficiary. [What Investors Can Do If They’re NOT Ready for Retirement]( [image]( Thanks to a little-known loophole in the law, investors can collect between $2,500 and $3,900 per month for the rest of their lives, tax free, even if they currently have ZERO saved for retirement. It’s a retirement strategy unknown to most financial planners, yet it’s 100% legal and approved by the IRS. One famous investor used this secret strategy to turn just $2,000 into $5 billion. [Click here to find out more.]( [CLICK HERE...]( Joint accounts and joint title are widely used ways to avoid probate. Married couples can own real estate or financial accounts through joint tenancy with right of survivorship. Some states also allow a tenancy in the entirety for real estate. In either case, the spouses both own the property while both are alive. The surviving spouse automatically takes full title after the other spouse passes away. Joint title to property also can be established between non-spouses. It’s fairly common for an older person to create a joint account with a younger person at a financial institution. The younger person automatically inherits the account when the older person passes away, without the need for probate. In addition, if the older person is unable to manage his or her affairs at some point, the younger person can manage the older person’s finances without the need for a power of attorney. But there are downsides. All joint owners have equal rights to the property. A joint owner can take withdrawals from the account or change how it is invested without the consent of the other owner. Joint accounts are one of the most common means through which financial fraud and abuse are inflicted on older people. Also, once joint title is established you can’t make a change in ownership without the consent of the other joint owner. The person who inherits full title of an account through joint title also might not receive some of the tax benefits, such as increasing the tax basis of assets, available when assets are inherited in other ways. Joint title is the least desirable way to avoid probate when the joint owners aren’t spouses. In next week’s issue of Retirement Watch Weekly, we'll dig a little deeper with some additional ways to avoid probate. To a better retirement, [Bob Carlson] Bob Carlson Editor, Retirement Watch Weekly Editor's Note:Change can be an opportunity. Or it can lead to hardship. That’s why I’ve said many times the best gift you can leave your family is a book of key financial and personal data. That’s why I created what’s become my most popular report, To My Heirs: A Book of Financial Wishes and Instructions. It will help you gather all the facts in one place. Your heirs will know exactly where to find everything they’ll need, and then some. They’ll know whom to contact and what to ask. All that will save a lot of time and anguish plus legal and accounting fees. [Click here to get yours now.]( SPONSORED [Your Recession Shield is A.I.]( [image]( You don't have the time to just sit around for the "interest rate" to play out. All professionals have their “tools” to improve success. And more and more traders are embracing Artificial Intelligence to forecast market trends 1 - 3 days in advance with up to 87.4% proven accuracy. [Come See the Stocks Set To Skyrocket In A Brave New World>]( [CLICK HERE...]( Want More Retirement Advice? Check out my website, [RetirementWatch.com](, where you’ll find hundreds of free articles covering every aspect of retirement planning. Popular Posts: [Marital Deduction - Dos and Don'ts]( [The Overlooked Triple Tax Saving Tactic]( [10 Basic Rules for Every Estate Plan]( [How to Vary Spending During Retirement]( New to the Retirement Watch Community: SeniorResource.com Having an employment opportunity after retirement is sometimes a necessity. But it can also be a blessing. I happen to know a handful of folks who found their dream job after working for years in their primary profession. If you find yourself seeking employment after you retire, be tenacious and creative. Do your best to find a job that stems from and suits your experience, talents, and interests, [like these folks did.]( About Bob Carlson: [Bob Carlson]Robert C. Carlson is the author of the books The New Rules of Retirement and Retirement Tax Guide, editor and investment director of the popular retirement newsletter, Retirement Watch, and editor of the free weekly e-letter, Retirement Watch Weekly. Bob is a frequent speaker at investment conferences around the country, and you can also hear Bob as a featured guest on nationally-syndicated radio shows, such as The Retirement Hour, Dateline Washington, Family News in Focus, The Michael Reagan Show, Money Matters and The Stock Doctor. About Us: Eagle Financial Publications is located in Washington, D.C. – only a few blocks from the Capitol. Our products have been helping investors build their wealth for several decades. Whether you’re a long-term investor or short-term trader, you’ll find the right strategy for you, including how to earn more steady income to spend now, preserve and grow your capital to enjoy later, and whatever other investment goals you have. Visit Our Websites: - [StockInvestor.com]( - [DividendInvestor.com]( - [DayTradeSPY.com]( - [CoveredCall](.com - [MarkSkousen.com]( - [GilderReport.com]( - [BryanPerryInvesting.com]( - [JimWoodsInvesting.com]( - [InvestmentHouse.com]( - [RetirementWatch.com]( - [SeniorResource.com]( - [GenerationalWealthStrategies.com]( - [InvestInFiveStarGems.com]( - [[YouTube] Visit our YouTube Channel - Eagle Investing Network]( To ensure future delivery of Eagle Financial Publications emails please add financial@info2.eaglefinancialpublications.com to your address book or contact list. This email was sent to {EMAIL} because you are subscribed to Dividend Investor Daily. To unsubscribe from this list please click [here](. To stop receiving emails simply click [here](. If you have questions, please send them to [Customer Service](mailto:customerservice@eaglefinancialpublications.com). View this email in your [web browser](. Legal Disclaimer: Any and all communications from Eagle Products, LLC. employees should not be considered advice on finances. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized advice on finances. Eagle Financial Publications - Eagle Products, LLC. - a Salem Communications Holding Company 122 C Street NW, Suite 515 | Washington, D.C. 20001 [Link](