Eldercare Articles

Book: How to Apply for VA Benefits for Veterans and Their Survivors

Book: How to Deal with 21 Critical Issues Facing Aging Seniors

Join the NCPC

Planning for Eldercare Articles RSS Feed


Some Ideas on How to Avoid Probate

August 14, 2018 | by Thomas Day

Probate avoidance is not as important as it used to be because of the many states that are bypassing the formal probate process with simplified options. But there are still a number of states that have not provided relief from the high cost and time involved. In addition, even in those states where it is simplified, it is much easier to avoid the process altogether. Here are some of the more common strategies.

Pay on Death for Bank Accounts

Almost any bank will establish a pay on death for savings, CDs and checking accounts. This is not automatic and this option must be initiated by the owner. This is not a joint account and the person or persons who are listed on the pay on death card has no access to the funds while the owner is alive. At death of the owner, the beneficiary on the account presents a death certificate and evidence of identity and can take over the account.

Tax Qualified Retirement Accounts

These accounts are such things as IRAs, 401(k)s, 403b's, 401(a)s, SEPP, SIMPLE and so on. Contract provisions of these accounts are governed by the IRS. All of these qualified accounts allow for naming a beneficiary or beneficiaries in the event of death. As a result, these accounts automatically bypass probate. It should be noted that in community property states, if the account was acquired and funded while the couple was married, half of any of these accounts belongs to the surviving spouse.

Continue Reading - Some Ideas on How to Avoid Probate


Previous Articles

2018 July 20 Elder Mediation Services
2018 June 20 Financial Abuse of Senior Citizens
2018 May 9 Will Medicaid Take Away Your Home?
2018 April 17 The Value of Life Insurance for the Final Years
2018 March 13 Understanding Powers of Attorney
2018 February 18 Elder Law and Estate Planning Advice
2018 January 5 Why should I use an Elder Law Attorney?
2017 November 24 The Portion of Our Lifetime Where the Final Years Are in Sight
2017 October 27 Attitudes towards Aging often Affect Health
2017 September 29 How Does Guardianship Help an Aging Senior?
2017 August 18 Plan for Long Term Care Before You Need It
2017 July 7 Seniors and Retirees, Consider Using a Reverse Mortgage to Supplement Income
2017 June 5 The Value of Geriatric Care Management Services
2017 February 22 How the Funeral Rule Helps Consumers
2016 December 15 Caring for a Loved One at Home Can Be Challenging
2016 September 22 Estate Planning As Part of Your Long Term Care Plan
2016 August 18 Perpetrators of Elder Abuse Are Usually Family Members
2016 June 29 Osteoporosis - What You Need To Know
2016 May 12 Include End-Of-Life Planning When Anticipating Long Term Care
2016 March 24 Gut Health and Antibiotics
2016 February 16 What Should I Expect to Pay for Funeral and Burial Expenses
2016 January 5 Arthritis Among Seniors
2015 November 12 Parkinson's Disease
2015 October 19 What to Do When an Aging Loved One Dies
2015 September 18 How Elder Law Can Help You
2015 August 4 Home, the Desired Setting for Elder Care
2015 July 20 Is Medicaid Planning Ethical?
2015 June 25 Fall Prevention and Coping after a Fall
2015 May 5 Vietnam and PTSD - 40 Years Later
2015 April 17 VA Is Looking for Authority from Congress to Institute a 3 Year Look Back and Penalty for Veterans Pension
2015 April 10 Proposed Legislation for Look Back and Penalty for VA Veterans Pension - The Rise and Fall of the Pension Poachers
2015 March 27 Mesothelioma Facts: What the Elderly Need to Know
2015 February 23 Life Insurance and Life Settlements
2015 February 6 What is the Difference Between Dementia and Alzheimer's Disease?
2015 January 7 Avoiding Slips and Falls In Bad Weather
2014 December 16 Enlighten Your Season: Advice for Caregivers of the Elderly
2014 November 17 There is a New Vaccine Recommendation for Adults Age 65 and Older
2014 October 15 Advanced Directives, Fiduciaries, Guardianship, and Power of Attorney
2014 August 25 10 Tips to Keep in Mind While Helping Aging Parents
2014 July 30 Guide to Long Term Care Planning
2014 June 25 Understanding the Issues Facing Aging Seniors
2014 May 6 Growing Problem Facing Seniors: Reduced Spending Power
2014 April 10 Caring for Your Grandchildren
2014 March 25 Living Arrangements for Aging Seniors
2014 February 17 Preserving Assets and Transferring Assets to the Next Generation
2014 January 17 Care Management Advice
2013 December 30 Holiday Caregiver Burnout
2013 December 6 The Beginning of the End-Of-Life Planning
2013 November 11 Holiday Blues - Depression among the Elderly
2013 October 24 Medicare Open Enrollment Starts October 15
2013 October 17 Home Repair Loan and Grant Program
2013 October 9 Speak Out Against Elder Abuse
2013 September 9 Leaving This World Alone
2013 August 13 Healthy Living and Successful Aging
2013 July 11 The Accidental Caregiver
2013 June 5 Social Security – A Safety Net for Retired Americans, their Survivors, and the Disabled
2013 April 2 Benefits for Senior Veterans
2013 February 4 Family Matters
2013 January 8 Life Resource Planning Meets Needs beyond Retirement
2012 December 6 Dying With Debt
2012 November 13 Invisible Heroes
2012 October 8 The Great American Tragedy: Homelessness Among Our Veterans
2012 September 10 Healthy Aging – Physically, Mentally and Financially
2012 August 1 A Cost-Effective Way to Acquire New Clients or Customers
2012 July 7 Heat Wave Puts Elderly at Risk
2012 June 6 A Cheaper Alternative for Respite (Adult Day Care)
2012 April 12 Will the Government Pay for My Long Term Care?
2012 Feb 7 ARE YOU LISTENING?
2012 Jan 11 Is Insurance the Answer to Long Term Care Planning?
2011 Dec 12 Recognizing the Need for outside Help in Caregiving
2011 Nov 7 Celebrating Family Caregivers - National Caregivers Month
2011 Oct 10 Can I Get Paid to Care for a Senior Family Member?
2011 Sep 6 Expert Help Available for Seniors on the Move
2011 Aug 8 Social Support Activities Lead to Better Quality of Life As One Ages
2011 July 7 It Has Been a Year Since We Filed for Aid & Attendance for My Father
2011 June 6 How To Protect The Family Home From Medicaid Recovery
2011 May 5 Downsizing, Organizing, Handicap Remodeling or Relocating
2011 April 11 Using Your Home Equity for Long Term Care
2011 March 9 Choosing Home Care Services That Meet Your Needs
2011 February 7 Somebody's Sweetheart
2011 January 7 Working with Elder Parents in Planning Financially for their Long Term Care
2010 December 8 The Perfect Holiday Caregiver: It's all a state of mind
2010 November 5 Choices for End-of Life Caregiving
2010 October 6 Legal Issues with Veterans Benefits
2010 September 8 Helping Your Elderly Parent with COPD Related Depression
2010 August 9 Getting Your Affairs In Order
2010 July 8 Applying for the Veteran's Aid and Attendance Pension: My Personal Experience
2010 June 8 Recognizing Symptoms of Dementia
2010 May 5 The Financial Health of Aging Seniors
2010 April 7 Vitamins and Mineral Supplements Are Important for Older People
2010 Mar 8 Employer Support for Care Giving Employees
2010 Feb 7 Caring for Senior Veterans - VA LTC Benefits
2010 Jan 10 Elder Law Attorneys Specialize in Helping the Elderly

The NCPC has been publishing articles since 2006. To access articles written earlier than 2010, please visit the member section.