Probate tends to be costly and lengthy \u2014 so much so that many people seeks ways to avoid asking their heirs to go through the process at all. There are legal, probate-free means for transferring assets to heirs in the United States, but they vary from state to state.\u00a0Within the metropolitan Washington area, which encompasses Virginia and Maryland as well as the District of Columbia, some of the differences can be very significant.<\/p>\n
The most notable means of avoiding probate is through a living trust. Upon establishing a living trust, residents of Virginia, Maryland or the District of Columbia may place virtually any asset \u2014 real estate, banks accounts, vehicles, etc. \u2014 within the trust. He or she then transfers ownership of those assets to him- or herself as the trustee of the trust and names a successor trustee, who will transfer property within the trust to the designated beneficiaries without probate (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Probate tends to be costly and lengthy \u2014 so much so that many people seeks ways to avoid asking their heirs to go through the process at all. There are legal, probate-free means for transferring assets to heirs in the…<\/span><\/p>\n