What are the different ways I can avoid probate?

Have you ever been asked how to avoid the probate process? The question seems to come up more frequently as you get closer to understanding the finality of life . . .

For the rest of us wondering what probate is, it's the process a persons estate goes through at their death to pay debts and distribute property. There's a more formal definition at wikipedia.org.

Here's the answer you've been looking for: All of the web sites below say that what, in order to avoid probate, you need is a properly made out will and beneficiary designations on your asset accounts (stocks, bonds, mutual funds, life insurance, etc). You don't necessarily need life insurance, an annuity or a trust just to avoid probate!

Check 'em out:

• Inc.com: Ways to Avoid Probate
• Crosswalk.com: Future Planning: Probate And How to Avoid It
• MSN Money: Retirement & Wills