Understanding Probate

Probate is the legal process through which a deceased person’s estate is administered and distributed under the supervision of the court. While probate serves as a mechanism to settle debts, distribute assets, and validate wills, its intricacies can lead to delays, costs, and potential disputes. Yanitza Schoonover recognizes the desire of her clients to streamline this process, prompting the exploration of alternative paths to safeguard their assets and minimize complexities.

The Benefits of Avoiding Probate

Time Efficiency

Probate proceedings can be time-consuming, often taking several months or even years to conclude. By implementing strategies to avoid probate, individuals can streamline the transfer of assets to beneficiaries, providing quicker access to inheritances and reducing the overall time frame associated with estate settlement.

Cost Savings

Probate can incur substantial costs, including court fees, legal expenses, and executor fees. By circumventing probate, individuals can minimize these expenses, preserving a larger portion of their estate for their heirs.

Privacy Preservation

Probate proceedings are a matter of public record, meaning that details about the deceased’s estate, beneficiaries, and assets become accessible to the public. For those who value privacy, avoiding probate offers a shield against unwanted scrutiny.

Flexibility and Control

Probate proceedings follow a structured legal framework, leaving decisions in the hands of the court. By sidestepping probate, individuals can employ various estate planning tools that allow for greater customization and control over the distribution of assets according to their wishes.

Strategic Approaches to Avoid Probate

Revocable Living Trusts

A cornerstone of probate avoidance, revocable living trusts empower individuals to transfer assets to a trust during their lifetime. Yanitza Schoonover guides her clients in creating and managing these trusts, ensuring a seamless transition of assets to beneficiaries without the need for probate.

Joint Ownership

By structuring assets as joint tenancy with right of survivorship, individuals can facilitate the automatic transfer of ownership to the surviving joint owner upon death. This approach applies to real estate, bank accounts, and other joint assets.

Beneficiary Designations

Assets such as life insurance policies, retirement accounts, and payable-on-death (POD) bank accounts allow for the designation of beneficiaries. Yanitza Schoonover assists her clients in strategically assigning beneficiaries to these assets, facilitating a direct transfer outside the probate process.

Gifts and Lifetime Transfers

Proactively gifting assets during one’s lifetime can reduce the overall value of the estate subject to probate. Yanitza Schoonover provides counsel on strategic gifting strategies to optimize tax implications and minimize the probate estate.

Small Estate Procedures

Some jurisdictions offer simplified probate procedures for smaller estates. Yanitza Schoonover assesses her clients’ situations to determine eligibility for these streamlined processes, providing a more efficient means of estate settlement.

Yanitza Schoonover’s Expertise

Yanitza Schoonover earned her law degree from Western Michigan University Thomas M. Cooley Law School in 2012, specializing in Real Property, Probate & Trust. With a dedicated focus on estate planning, she leverages her expertise to guide clients through the intricacies of probate avoidance.

Multilingual Proficiency

A testament to her commitment to accessibility, Yanitza is proficient in both English and Spanish. This linguistic dexterity enhances her ability to cater to a diverse clientele, ensuring that language is not a barrier when providing essential legal guidance on probate avoidance.

The Schoonover Law Firm, P.A.

Yanitza Schoonover leads The Schoonover Law Firm, P.A., a legal establishment that reflects her commitment to excellence and client-centric values. The firm serves as the backdrop for Yanitza’s personalized approach, emphasizing tailored guidance that aligns seamlessly with each client’s unique needs and circumstances.

To embark on an estate planning journey that prioritizes efficiency, cost-effectiveness, and your unique vision, contact Yanitza Schoonover today. Your legacy deserves the meticulous attention and strategic planning that Yanitza brings to every client she serves.