Easy ways to avoid probate

By Beth Newcomb

Nobody wants to pay more than they need to, especially when it comes to matters of estate planning. And when you die, like most people you’d probably prefer your hard-earned money go directly to your heirs, instead of the court system.

Jay Nabors, who works with his wife, Linda, at Nabors & Nabors, the Strongsville-based law firm where attorney John J. Urban is of counsel, offers these tips to help keep your assets out of probate:

Investments and Retirement Accounts
Be sure to name a beneficiary for all of your investments and retirement accounts, so the money will pass directly to your loved one(s) at the time of your death, instead of going through probate court.

Bank Accounts
“Most people overlook their bank accounts,” Jay says. “Be sure to assign the account to someone as ‘payable on death,’ or ‘transfer on death.’”

Car Titles
It might surprise you to learn you can have your car title transferred on death. This requires a little extra leg work on your part, but naming a beneficiary for your car keeps this item out of probate. There will be a small fee charged by the title bureau.

House Title
“Now we can even transfer your home or real estate on death, but this one costs a little money as well, and it might be wise to involve an attorney,” Jay says. “Each property you own needs to have its own transfer paperwork.”

Jay and Linda can help to make sure the survivorship language is correct, and Nabors & Nabors offers Mimi readers a free legal services consultation in person or on the phone, with services at a contracted discount rate. Mention this story when you schedule an appointment. House calls and select evening appointments available.

To reach the attorneys at Nabors & Nabors Ltd., with John J. Urban of counsel, call 440-846-0000, ext. 227. The offices are located at 11221 Pearl Road, in Strongsville. Visit the website at Nabors-Law.com.