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The living trust is the most well-known way to avoid probate.
A transfer on death deed (TODD) is a legal document that allows a person to transfer ownership of their property after they die. By using a TODD, a person can transfer the property directly without going through probate.
If assets have a named beneficiary or are jointly held, then they usually go straight to the beneficiary or the surviving owner without needing to be probated. However, the following assets do require probate: Real estate held in the deceased's name only.
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 tenancy in the entirety for real estate to avoid probate.
How to Avoid Probate Create a Living Trust. A revocable living trust can be used to avoid probate. ... Joint Ownership of Property. Joint tenancy is when two or more people are owners of the property or an asset. ... Name Beneficiaries on Accounts. ... Work with a Knowledgeable Woburn Probate Attorney.