A common myth is that anyone who dies without a will and owns a house must go through probate, but this is not always the case; there are insurance options available that can help avoid opening a probate estate, and since real estate is typically the largest asset in both living and decedent estates, understanding these alternatives is crucial for estate planning.
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Kevin Camden on Beyond the Will: Insurance and Options to Avoid Probate Court #peoplenottitlesAdded:
You know, one of the big myths is, oh, somebody died without a will and they own a house, we have to open a probate.
It's not the case, right? And that's where you That's one of those seven or eight out of 100 >> Yes.
>> where if you talk to somebody that does real estate often enough, we don't necessarily have to open that probate estate. There are extra layer of insurance that we can buy to do that.
Some dominoes have to fall the right way, but it's not necessarily, you know, probate should be a four-letter word for the way a lot of people think of it, and I understand that, but it doesn't have to be, and I think it's helpful when you do both the real estate and the probate, because very often in a probate estate, much like a living estate, right? Single largest asset is going to be the real estate. So, how are we going to deal with that in the context of a decedent's estate?
>> Mhm.
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