How Does Probate Work?

Whether or not a person has a last will and testament in place at the time of death, any assets that do not pass directly to beneficiaries must go through the probate process.

The process, in theory, is quite simple: To probate a will or estate without a will, the probate court assigns a representative, who will gather and list the deceased’s assets, pay any outstanding debts, bills, taxes, and fees, and then distribute assets to the intended beneficiaries according to probate law.

A probate attorney is often retained to help guide the representative (called an executor or administrator) through the probate process.

Time & Money

Even if you have a relatively simple estate, probate can eat up time and resources that not only delay your loved ones’ receipt of your assets but can also cause great stress in the months or even years it can take to settle an estate. That’s right, it can take years.

After a death in the family, the last thing anyone wants to do is sit through meetings with attorneys and court proceedings for months on end. And remember, all of this happens publicly as the probate process is a public proceeding. So anyone can view what is going on with your estate.

AND it costs money, which cuts into the value of probate property, even up to 10%—which means your loved ones won’t ever receive it.

How can you avoid Probate?

There are several ways to avoid probate; however, we think that a Revocable Living Trust is the best route for most people.

Contact us today to set up free consultation to learn why we think this is the best route to take and learn about our unique solution.