Many people ask me why they have heard that they should avoid probate.
Here is how the probate process works:
Probate is a legal process that wraps up a person’s legal and financial affairs after their death. During this court process, property is identified and inventoried. Also, during this process, outstanding debts and taxes are identified and paid.
Probate is a complex process filled with very specific legal requirements. Property cannot be distributed to beneficiaries until all these requirements are met.
The most common misunderstanding is that probate is not required if there is a Will. When a person dies with property in his or her sole name (no co-owner or beneficiary designation) there must be a probate – will or no will.
Probate can take a long time. I have handled probates that were open from 6 months to 3 years!
Probates are expensive. Legal fees and costs can depend on the size of the estate or the time it takes to complete the process. Even small estates can take a long time, depending on the circumstances.
Probate is a public process. Every document filed with the court is a matter of public record. Others can see how much the deceased left behind and how much each beneficiary received.
If you have concerns about the probate process, contact our office to learn how you can structure your assets to avoid this probate process.
Call the Law Offices of Debra G. Simms at 386.256.4882 to learn more.
This blog post is not case-specific and is provided only for educational purposes and is not intended to provide specific legal advice. Blog topics may or may not be updated and entries may be out-of-date at the time you view them