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How do you avoid probate in WV?

In West Virginia, you can make a living trust to avoid probate for virtually any asset you own -- real estate, bank accounts, vehicles, and so on. You need to create a trust document (its similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

How much does an estate have to be worth to go to probate in WV?

No, not all estates must go through the formal probate process under West Virginia law. As described above, smaller estates (valued at less than $100,000 not counting real estate) and any property that passes to beneficiaries by living trust document can avoid the complicated process of formal probate.

What are the 7 steps of preparing a will?

How to make a will in 7 steps List all your assets. These might include: Decide who gets your money and belongings when you die. Choose guardians for minor children. Make your own will or work with a professional. Name an executor for your will. Make your will official. Keep it updated.

What are the 5 components of estate planning?

Here, our estate planning attorneys lay out the 5 main components of estate planning: Wills and Trusts. Durable Power of Attorney. Medical or Healthcare Power of Attorney. Living Wills and Advance Directives for Medical Decisions. Beneficiary Designations.

What is estate planning checklist?

In this checklist, well outline what you should consider when establishing an estate plan. Take inventory of your belongings. Make a last will and testament. Find a trusted estate executor. Consider a living trust.

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