Think of the probate process as the state’s way of saying the court will address any issues you failed to tackle, with no concern for your wishes or your family’s well-being. Sounds harsh, but failing to have an estate plan in place leaves loved ones at the mercy of the court. You can avoid this with proper estate planning, says a recent article, “How To Avoid Probate And Protect Assets” from Forbes.
Establish a revocable living trust. Trusts are legal entities used to hold assets while you’re living and pass them on to beneficiaries when you have died. Unlike wills, which become public records when they enter probate, trusts ensure that wealth transfers happen quickly and privately. Revocable living trusts can be amended at any time the grantor wishes, providing a great deal of flexibility.
Name beneficiaries on accounts whenever possible. Most people own many accounts with beneficiary designations. These are typically life insurance policies, investment accounts, or accounts with Transfer On Death (TOD) or Pay On Death (POD) designations. These accounts are outside the probate estate and go directly to your named beneficiaries. Be sure those names are up to date, since beneficiary designations supersede any provisions in the will.
Use proper legal structures for property ownership. Joint ownership with right of survivorship (JTWROS) allows the surviving owner to take title to the property outright upon the first owner’s death. Talk with your estate planning attorney about how this affects taxes or liability exposure. For blended families or businesses, additional planning may be needed to pass the assets on to heirs or partners.
Minimize estate taxes through gifting and trusts. You may not need to concern yourself with federal estate taxes. However, state estate taxes can still take a bite out of inheritances. An experienced estate planning attorney in Arkansas will know how to use trusts and gifting to minimize taxes. Tools such as Charitable Remainder Trusts, Irrevocable Life Insurance Trusts and annual gifting through Qualified Charitable Distributions (QCD) are worth exploring.
Document intent and update documents regularly. The biggest mistake in estate planning is not having one, while the second biggest is failing to update it. Life changes such as marriages, divorces, births, deaths and moves require updated estate plans.
Estate planning is about controlling how your assets are distributed, maintaining family privacy and creating a legacy of care. Talk with an estate planning attorney today to avoid the costs and delays of probate while protecting your family and ensuring that your assets are distributed according to your wishes, not the state’s.
Reference: Forbes (Dec. 16, 2025) “How To Avoid Probate And Protect Assets”