Agent

Strategies to avoid, simplify probate

Create separate trusts for real estate, cash, cars
Published on Nov 23, 2010

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DEAR BENNY: My wife and I are rather perplexed with the legal advice we have received with respect to our estate planning. We own a house (fully paid for) as "tenants by the entirety"; all personal effects and household goods are owned in common; we have joint ownership of bank accounts, savings, etc.; my wife has life insurance (I'm the first beneficiary and our son is the secondary beneficiary), and we own one automobile, which is paid in full. The total value of everything we own is well below the current exemption threshold set by federal laws.

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