Top Estate planning attorney Michele Ungvarsky reveals why it’s important to avoid probate – Las Cruces, NM

Leading estate planning attorney Michele Ungvarsky, founding partner at E-Law in Las Cruces, NM, explains why it's important to avoid probate by taking certain steps . For more information please visit https://www.estradalawpc.com

Las Cruces, NM, United States - September 11, 2019 /MM-REB/ —

In a recent interview, leading estate planning attorney Michele Ungvarsky, founding partner at E-Law (formerly known as Estrada Law PC) in Las Cruces, NM, revealed why it's important to avoid probate.

For more information please visit https://www.estradalawpc.com

When asked for a comment, Ungvarsky said, “When planning for your estate, probate court proceedings are one major thing that you’d want to avoid. Probate proceedings can be long and costly, which will ultimately place undue stress on your loved ones."

After making this point Ungvarsky pointed out there things that can be done in the state of New Mexico that will help steer clear of probate.

For example, she mentioned that living trusts are a foolproof way of preventing probate court proceedings.

When asked to elaborate, Ungvarsky said, “When it comes to avoiding probate, living trusts in the state of New Mexico is the way to go. These trusts will cover nearly any asset, including vehicles, bank accounts, and property.”

"The process of creating a living trust is quite simple: assign someone to be the successor trustee after you pass away and then transfer the ownership of the property to yourself as the trust's trustee."

Ungvarsky continued by saying, “After you die, the successor trustee will be in charge of whom the assets get passed onto without having to go through the court system.”

Another fail-safe way Ungvarsky offered to avoid probate is through something called joint ownership.

In terms of New Mexico, Joint tenancy is the type of joint ownership people would use.

When asked to explain how this is possible Ungvarsky said, "This form of ownership is only recommended for married couples because you will become legally responsible for the other person’s mistakes. "

"So for instance, if the other joint owner gets sued, filed bankruptcy or goes through a divorce the legal system will consider a portion of that asset available to pay the debt of the joint owner who has the legal problem. This happens more often than you would believe."

"Joint tenancy allows for assets and property to be automatically passed onto the surviving owners. Again this is only recommended for married couples," Ungvarsky explained.

Ungvarsky also mentioned a way to pass on assets or real estate to people other than someone's spouse so that probate is avoided.

"You can do this by completing pay on death beneficiary forms or Transfer on Death Deeds. These forms do not convey any ownership interest until the primary owner dies and the beneficiary presents a death certificate. Another advantage of these forms is that you can revoke them if you decide to change the beneficiary," she said.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Michele Ungvarsky
Email: Send Email
Organization: Estrada Law, P.C.
Address: 1340 Picacho Hills Dr, Las Cruces, NM 88007, USA
Phone: 575-556-2462
Website: https://www.estradalawpc.com

Source: MM-REB

Release ID: 88913333

More Press Releases

Globes carpet kicks off with big sleeves and shades of pink

Jan 25, 2020

NEW YORK — Cynthia Erivo and Greta Gerwig rocked sparkling chokers as the Golden Globes red carpet kicked off Sunday, with Erivo in a hand-beaded custom Thom Browne gown and Gerwig in black and cream. Both went off-shoulder for the big night in Beverly Hills, California. Erivo, the “Harriet” star and fashion standout, said her dress includes designs of her favorite flower, the peony, at the hem and in her lining. The short-sleeve gown, Erivo told E!, took 800 hours. A huge blue stone dropped from her short necklace. Shades of pink had an early trend moment on Kirsten Dunst...

Judge: No slander in Alec Baldwin's comments on parking spat

Jan 25, 2020

NEW YORK — Alec Baldwin didn't slander a man in interviews about a parking dispute that turned physical, a judge has ruled as dueling lawsuits between the actor and the other driver continue. Baldwin's remarks — including claims that Wojciech Cieszkowski's driving was “really fast,” “really aggressive” and made the actor think his wife and son were about to be run over — were "hyperbole" and "rhetorical illustrations," Manhattan judge David B. Cohen wrote Thursday. “They are words of frustration with someone's driving,” not accusations that amount to slander, Cohen wrote. He tossed out Cieszkowski's slander claim, but his assault...

Innovative fashion designers lead the way on sustainability

Jan 25, 2020

LONDON — Innovative fashion designers are turning to such things as horseradish and nettles to make sustainable clothing and accessories to the delight of a growing number of buyers. While more consumers are paying closer attention to how the production of goods impacts the environment, old habits die hard. A buy-and-toss mentality persists despite a boost from celebrities helping to drive the upcycle and vintage movements. Actress Maggie Q, who created an activewear line from recycled fabrics, is among activists who see plenty of room for improvement. She says she feels "sick about fast fashion.'' "You hear people say, 'Well,...

Streep, Miranda and Stone are named as Met Gala co-0chairs

Jan 25, 2020

NEW YORK — Next year's Met Gala may be the closest we'll ever come to getting a Miranda Priestly moment at the starry event. Meryl Streep has been named as a co-chair of the Metropolitan Museum of Art's Costume Institute. The Oscar-winner played Priestly, a thinly veiled fictional version of Vogue editor Anna Wintour, in the movie "The Devil Wears Prada." Wintour clearly has no hard feelings because she selected Streep as a co-chair along with Lin-Manuel Miranda and fellow Oscar-winner Emma Stone. Designer Nicolas Ghesquiere rounds out the group. The gala's theme is "About Time: Fashion and Duration," which...

ABC says interview with Epstein accuser wasn't ready to air

Jan 25, 2020

NEW YORK — ABC News faced questions Tuesday about its reluctance to air a sensitive story of alleged sexual misconduct after a leaked video emerged of reporter Amy Robach complaining about how her bosses handled an interview with a Jeffrey Epstein accuser. The conservative web site Project Veritas released video of Robach venting that "every day I get more and more pissed" that her 2015 interview with Virginia Giuffre never made the air. Robach made her remarks late in August while sitting in a Times Square studio with a microphone but not on the air. ABC said Tuesday that the...

Broaden News

Reporter Pass is the only access you need to get into Hollywood. No matter it’s the red carpet event or backstage access, we’ve got you covered.

Award ShowsCelebrityPaparazziRoyaltyMoviesMusicTelevision Programs Press Releases