Site icon Financial Planning Associates, Inc. | Carl Goodin, CFP

You think that a person should have a will in order to avoid probate. You are incorrect.

Having a will does not avoid probate. In fact, a will is actually a tool of and for the probate process, one purpose of which is to carry out the intent of a deceased person. Therefore, prior to death a person indicates his or her intent in a document which is referred to as a will.

Probate, however will generally involve costs, publicity and delays which some people would prefer to avoid. In those cases other estate planning techniques can be used to good effect.

Exit mobile version