Can You Avoid Probate?

Probate is a long and arduous process for an estate, so it becomes only natural to wonder if proper estate planning can help an estate fully avoid probate. It is possible, though you have to plan far ahead.

Revocable living trusts are one way to avoid probate, as assets held in trust during the deceased’s life are not subject to probate after death. Living trusts were essentially created to avoid probate. In these cases, trustees technically own the property and then once the property grantor dies, the trustee can easily pass on the trust property and avoid probate. Another way to avoid probate is to convert bank accounts to payable on death accounts with an appointed beneficiary. That appointed beneficiary allows you to avoid probate.

Joint ownership of property also helps avoid probate as the property passes onto the joint owner on death. Simple gifts are another way to avoid probate as, with a gift, you’re transferring ownership of the property so you don’t have it to give anymore.

Without proper estate planning, much of your estate may have to go through probate. And in that case, the estate executor or administrator may be required to obtain an estate surety bond to protect the interests of the estate and its beneficiaries in accordance with applicable state laws.

Where can you purchase instant estate surety bonds?

Colonial Surety offers the direct and digital way to obtain estate bonds, also known as probate bonds, personal representative bonds, administrator bonds, and executor bonds. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print or e-file your bond from your office. It’s that simple!