After someone passes, their estate must usually go through the probate process, so that assets can be distributed and debts can be paid off according to the wishes of the deceased. The probate process can be time-consuming, costly, and make loved ones feel like they are living in a state of limbo. Thankfully, there are ways to avoid it.
Avoiding the Probate Process
Probate is not necessarily an inevitable process, depending on the situation.
Here are some questions people frequently ask:
- Why should I avoid probate? For some, probate can take years in court before an estate is finalized, especially if the decedent’s will is contested. Moreover, since it does have the potential to be a lengthy process, it can be costly, including attorney fees, appraisal fees, personal representative fees, and other administrator expenses.
- What happens during the probate process? If the decedent has a will, the personal representative of the estate will initiate the probate process, validating the will, distributing the estate, and pay any taxes that may be owed. If there is no will, a proceeding will be held to determine how the estate will be divided, which is ultimately a much more complex process.
- How can I avoid the probate process? If you are trying to help your loved ones avoid the probate process by planning now, you can establish an estate plan including a revocable living trust detailing your wishes for the distribution of your assets.
Reach Out to Our Experienced Estate Planning Team for a Consultation Today!
Estate planning is crucial, so do not hesitate to reach out to the skilled legal team at Kitzke & Canfield LLC to create a plan that will protect your interests and family. You can rely on us to provide the advice you need to meet your unique needs and achieve your goals.