This distribution plan can be found in the intestacy statute of each state. If you die intestate, the transfer of your property is accomplished through a court-supervised proceeding called probate that generally takes a minimum of six months, typically a year or more. These proceedings generally are expensive and time-consuming and tie up your property for several months. Probate can be avoided with proper estate planning. Probate is the court procedure used to change title to assets from the name of an individual who has passed away into the name of the living beneficiaries.
Probate is a public proceeding.
Probate can be avoided with careful planning. There are a number of different techniques for doing so which can be used alone or in combination. The government allows every individual a credit against estate taxes. The Internal Revenue Service allows an individual to leave any amount of assets to his or her spouse without taxation. This is a complex question.