Sell Your Denver, CO House Fast to Avoid Probate
The death of a loved one is always a difficult time. But in addition to grieving, you may also be tasked with handling their estate. And if their estate is large or complex, that can mean going through probate. Probate is the legal process of distributing a deceased person’s assets, and it can be time-consuming and expensive. But there are ways to avoid it. Here are three from a professional cash homebuyer in Denver, CO.
3 Ways to Deal with Probate
1. Set up a revocable living trust
A revocable living trust can be a helpful tool for people who want to avoid probate. With a revocable living trust, the assets in the trust will pass to the named beneficiaries upon the grantor’s death, without having to go through probate. The grantor is the person who creates the trust, and they can also act as the trustee—the person who manages the trust property. This means your beneficiaries can choose to sell your home to a cash homebuyer in Denver, CO, and not be questioned about it.
To set up a revocable living trust, you’ll need to create a trust document and transfer ownership of your assets into the trust. You can name yourself as the trustee, which gives you the flexibility to change the terms of the trust or revoke it entirely if you wish. And since you still own the assets in the trust, you can use them as you see fit during your lifetime.
2. Make beneficiary designations on your accounts
When you open a bank account, retirement account, or life insurance policy, you may be asked to name a beneficiary. A beneficiary is someone who will receive the account balance or death benefit from the policy in the event of your death. A beneficiary designation is a way to avoid probate.
When you name a beneficiary, the account balance or death benefit will be paid directly to them, without having to go through probate. This can save your loved ones time and money. It’s important to keep your beneficiary designation forms up to date—especially if you experience a major life event like getting married or divorced. You can usually update your beneficiary designation online or by contacting the company that manages your account.
3. Transfer assets during your lifetime
There are a number of ways to avoid probate, and one of the most effective is to transfer assets during your lifetime. By giving gifts of cash or property to your beneficiaries while you’re still alive, you can ensure that they won’t have to go through the probate process when you die. You can also transfer ownership of certain types of property, such as a bank account or a vehicle, into joint ownership with someone else. That way, when you die, the property will pass directly to the other owner without having to go through probate.
Taking these steps can save your loved ones a lot of time and hassle, and it can help to protect your assets from being tied up in probate.
Sell Your House Fast in Denver, Co to Blue Halo Homes
Blue Halo Homes prides itself on being honest, reliable, and fair.
They’ll take care of the paperwork from start to finish and let you choose the closing date that works for you. Get started on selling your home today by giving them a call at (303) 457-1181.
Media Contact
Company Name: Blue Halo Homes, LLC
Contact Person: Matt L.
Email: Send Email
Phone: (303) 457-1181
Address:14261 E 4th Ave, STE 6-270
City: Aurora
State: Colorado
Country: United States
Website: https://bluehalohomes.com/