How Do You Avoid Probate If There Is A Will
Probate is a process by which a decedent’s estate is resolved and handled. This process involves settling all claims against the estate (debts, liens, etc.) and distributing the decedent’s assets in accordance with her or his wishes and the laws of the state.
Much of the advice available on probate today falls into two categories. One category gives advice on writing a sound will to guide your assets through probate; the other advocates using a variety of methods to allow as much of your property as possible to avoid probate entirely.
Though nobody disputes the importance of having a valid will, people may question whether the extra effort involved in avoiding probate is worth it. Why avoid it in the first place? Will it really have an impact on your loved ones after your death?
Avoiding Probate to Save Time
Probate is often a very lengthy, exhausting process. Even though most cases are run smoothly, the sheer amount of paperwork, legal technicalities, and boring clerical work involved can take months – or years. Critics of the process point out that it is routine, that little new information is discovered, that few changes are brought about, and that the whole thing is arguably without much practical purpose.
Things are made even worse if conflicts do arise during probate. In extreme cases, these disputes have been known to drag on for year after year, draining the resources of both the estate and the people fighting over it.
Avoiding Probate to Save Money
Though your executor may choose to waive his or her fee, attorney’s fees are more than enough to worry about. Even with a “normal-sized” estate, the cost of hiring a lawyer for probate – a definite necessity – can run up the bill quite a bit. In addition to paying for an attorney, your estate may also have to fork over cash for appraisers, consultants, and a host of unforeseeable expenses.
Avoiding the process entirely is most likely an unrealistic expectation. At some point, you will require the advice of a good lawyer to ensure that your estate planning is valid, solid, and efficient.
If you’re in need of immediate probate services, please contact https://connecticutprobate.com/ today for a free estate consultation