As many Connecticut residents know, creating a comprehensive estate plan is extremely important in making sure your assets are protected when you pass away. However, not only can estate planning help protect the assets, but a detailed estate plan can also save your loved ones significant time and money as they work to carry out your will.

One man recently discovered this after he spent thousands of dollars to go through the probate process after his wife passed away. Once the proceedings were complete, however, he discovered that a simple document could have prevented the whole process.

The man in this case was trying to pass ownership of his home and other property to be solely in his name. He spent nine months in probate that cost him $2,800 before the ownership was resolved. Had he and his wife filed a joint and survivorship deed with their county, however, he could have avoided probate altogether.

A joint and survivorship deed allows property, like a home, to be transferred from one spouse's name to the other's upon death. In total, it would have cost $200, and probate would not have been necessary.

Unfortunately, this man discovered the benefits of a joint and survivorship deed too late. However, Connecticut residents may find it useful to learn from his situation.

The death of a loved one is extremely difficult emotionally. When survivors have to go through months of probate just to settle affairs, it can make the situation much more stressful. To help ensure that your loved ones do not have face similar challenges, creating a well-rounded and comprehensive estate plan is one of the best things you can do. Speaking to an experienced estate planning attorney may be helpful in making sure you have covered all aspects of your estate.

Source: Beacon Journal, "Probate judge launches project to help some avoid probate," Betty Lin-Fisher, Feb. 5, 2012