Texas Non-Probate Asset Attorneys

Create a more secure future for your loved ones

Any assets beneficiaries inherit through probate are part of the public record and may take years to transfer ownership. However, with planning, you can designate non-probate assets that will swiftly and privately transfer to your heirs when the time comes.

At Shann M. Chaudhry Esq., Attorney at Law PLLC, our non-probate asset attorneys can assist you in designing and creating the estate plan that’s best for you.

We focus on creating estate plans to support our clients’ goals and building lifelong relationships with our clients in San Antonio and Austin, Texas.

If you’re interested in creating non-probate assets as part of your estate plan, contact us. Our experienced and empathetic attorneys can guide you through the process.

What Is a Non-Probate Asset in Texas?

In Texas, non-probate assets aren’t subject to the probate process, which is the public record “proving” of a will in court. In addition to lacking privacy, probate can be time-consuming and sometimes takes years to complete.

Because of this, when creating an estate plan, many Texans prefer to make some or all of their assets non-probate.

Non-probate assets may be:

  • Transferred by survivorship
  • Transferred by contract
  • Property of a trust

Examples of non-probate assets

There are several types of non-probate assets.

Assets that are transferred by survivorship are typically joint property, such as brokerage accounts or bank accounts. Life insurance and retirement accounts, on the other hand, are non-probate assets that are transferred by contract.

Community property is marital property. If one spouse passes on, half of the marital property belongs to the surviving spouse. The other half is subject to probate.

Assets placed in a trust are non-probate property. Designating assets to be passed on promptly and with privacy is one reason why people create trusts.

The non-probate asset attorneys at SMC ESQ PLLC have many years of experience in working with individuals and families to place property into trusts as part of their estate plan. We collaborate with clients to create unique, personalized plans and offer empathetic and communicative services.

    Examples of non-probate assets

    There are several types of non-probate assets.

    Assets that are transferred by survivorship are typically joint property, such as brokerage accounts or bank accounts. Life insurance and retirement accounts, on the other hand, are non-probate assets that are transferred by contract.

    Community property is marital property. If one spouse passes on, half of the marital property belongs to the surviving spouse. The other half is subject to probate.

    Assets placed in a trust are non-probate property. Designating assets to be passed on promptly and with privacy is one reason why people create trusts.

    The non-probate asset attorneys at SMC ESQ PLLC have many years of experience in working with individuals and families to place property into trusts as part of their estate plan. We collaborate with clients to create unique, personalized plans and offer empathetic and communicative services.

      How Non-Probate Assets Can Affect Your Estate Plan

      Non-probate assets offer the peace of mind that comes with knowing that when the time comes, your property will be passed on to your beneficiaries privately and promptly.

      By creating a trust, you can designate assets that would otherwise be probate as non-probate. There are many different types of trusts that come with different requirements and benefits, but all trusts set you up to designate property as non-probate.

      This includes revocable trusts, which are flexible and can be changed at any time, and irrevocable trusts, which are inflexible but come with estate tax benefits.

      At SMC ESQ PLLC, our non-probate asset attorneys collaborate with clients to tailor their estate plans to their needs, value, and family situation. We help families and individuals establish trusts and other estate planning tools to support their financial goals.

      How an Estate Planning Attorney Can Help with Non-Probate Asset Planning

      Creating a legally sound trust requires extensive legal knowledge—as does knowing which of the many trust options to choose in the first place!

      Working with an estate planning attorney can help individuals and families fully develop their vision for an estate plan and make it a reality. Moreover, an experienced attorney can provide valuable insights and guidance on the practical implementation and small details of different types of trusts.

      Our approach

      At SMC ESQ PLLC, our estate planning law firm in Texas is founded on helping our clients make informed decisions and creating plans that fit their life goals. We educate our clients but also proceed with the estate planning process one bite-sized piece at a time.

      Our goal is to take the burden of feeling like they need to have all the answers off our clients’ shoulders. We start with estate planning basics and move on to more complex issues as needed.

      We offer a holistic approach and strive to build lifelong relationships with the individuals and families we serve. We commit to clear, prompt communication and offer an empathetic approach.

      Ready to get started? Schedule a consultation with our law firm today!

      The non-probate asset attorneys at Shann M. Chaudhry Esq., Attorney at Law PLLC assist clients in creating well-considered and personalized estate plans that support their goals.

      Grounded in many years of experience, we’re dedicated to service every step of the way. We listen carefully to our clients’ preferences and concerns, and stay in constant communication with our clients to keep them informed.

      If you would like to create non-probate assets as part of your estate plan, contact us today. Our knowledgeable attorneys can guide you through the process.

      Texas Non-Probate Assets FAQs

      How are non-probate assets different from probate assets?

      Probate and non-probate assets are different because of how they get to the beneficiaries.

      Probate property may be mentioned in the will or be included in an intestate estate, or an estate without a valid will. However, the easiest way to understand probate property is to start with all the assets that are non-probate.

      Non-probate assets include:

      • Property held in a trust
      • Property subject to joint ownership, such as a bank account
      • Property passed on through survivorship, such as retirement accounts and life insurance
      • Community property, also known as marital property

      Are non-probate assets subject to estate tax in Texas?

      Non-probate assets can be subject to estate tax, including federal estate tax for assets that have a value greater than the current threshold amount for inheritance tax.

      Certain kinds of trusts, especially irrevocable trusts, can lower estate tax on non-probate assets.

      The non-probate asset attorneys at SMC ESQ PLLC work with clients to create trusts that ease the estate tax burden on their non-probate assets, helping them protect their legacy for their beneficiaries. However, no two clients are alike—that’s why we’re committed to finding you the right plan for your goals, your needs, and your loved ones.

      Are there advantages to having non-probate assets?

      Probate property has to go through a court process where the will is “proved” on the public record. Then an estate administrator catalogs assets, notifies beneficiaries and creditors, and distributes the assets. The probate process can be lengthy, sometimes taking years.

      Non-probate assets are distributed to beneficiaries privately and without having to go through probate court.

      You can essentially turn probate property into non-probate property by placing it into a trust. This can include real estate, businesses, cash, and more.

      Our non-probate asset attorneys take pride in working closely with our clients to create smart, thorough trusts and estate plans that support their goals.