What methods exist to avoid probate,or to establish non-probate property?

Question

Quizplus · Accepted Answer

All of the above methods can be utilized to avoid probate or establish non-probate property depending on the individual's specific circumstances and estate planning goals. Gifts can be made during the individual's lifetime to transfer property to beneficiaries without going through probate. Trusts, such as living trusts, can be established to transfer property outside of probate and provide greater control over how the property is distributed. Certain contracts such as life insurance and retirement plans can designate beneficiaries to receive the proceeds directly, avoiding probate. Joint ownership of property with rights of survivorship can also avoid probate by automatically transferring ownership to the surviving joint owner. Utilizing a combination of these methods may be the most effective way to establish non-probate property and avoid the probate process.  So, option E is the best choice.

What Methods Exist to Avoid Probate,or to Establish Non-Probate Property