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8 Ways to Avoid Probate

Exam Questions: 30
Course Level: Basic
Pages: 240 | Content: 178, Supplemental: 62
NASBA Area of Study: Finance
Not Acceptable for: Enrolled Agents
Version: 7670A

This course offers easy and effective ways to skip the probate process so that property goes directly to the intended beneficiaries and avoids costly and time-consuming court proceedings. You'll learn how to create a savvy estate plan and find out more about utilizing a living trust. It will address naming payable-on-death beneficiaries for financial accounts and the right beneficiaries for IRAs, 401 (k)s, and other retirement plans. It will also touch on when you should own property jointly, leave real estate with transfer-on-death deeds, and provide you with procedures to follow for small estates. PLEASE NOTE: Not accepted for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic.

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Course Information

Table of Contents
  • Introduction
  • Set Up Payable-on-Death Accounts
  • Name a Beneficiary for Your Retirement Accounts
  • Name a Beneficiary for Your Stocks and Bonds
  • Name a Beneficiary for Your Vehicles
  • Name a Beneficiary for Your Real Estate
  • Hold Property In Joint Ownership
  • Create a Living Trust
  • Take Advantage of Special Procedures for Small Estates
  • Make Gifts
  • Putting it All Together
Objectives
  • To identify the specifics of probate
  • To recognize the intricacies of POD accounts
  • To identify the options for naming beneficiaries for retirement accounts
  • To identify the options for naming beneficiaries for stocks and bonds
  • To identify the options for naming beneficiaries for vehicles
  • To identify the options for naming beneficiaries for real estate
  • To recognize the nuances of taking title as joint owners
  • To identify how a will is different from a living trust
  • To recognize the benefits of affidavits and the simplified probate process
  • To identify the rules regarding the gift tax

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.