Why Avoid Probate?
While it can serve many functions, one of the best things that estate planning can do for you and your loved ones is bypass the tedious process that is probate court. Probate is the means by which estates are executed. While it’s one thing to hear about it, the process of going through it can result in a massive drain on loved ones. Let’s take a look at why you want to avoid probate court.
Loss of Time
No matter the complexity of the estate, any legacy not planned properly will need to pass through probate court. Probate is time consuming, in both an active and passive sense. It can take a great deal of time from a grieving family. This gets even worse in instances where an estate plan is called into question. Regardless of complications, an estate typically must remain in the courts for at least 6 months to allow for creditors to make claims against the decedent’s estate. This time in the court room is time that loved ones will have to take away from work or family time. Not to mention that months and years that could be spent waiting for it to be finished.
This valuable time is simply lost.
Loss of Money
Nothing in life, or death, is free. Probate court is expensive, often draining around 8% (or more) in court and attorney fees. Almost universally people are unaware of these fees, which can cause a great deal of anxiety in people at an already difficult time. These fees are almost entirely avoidable by skipping probate court with proper planning.
In some cases, an attorney could even list themselves as your executor in a cheaply made estate plan. This would result in said individual taking an additional percentage payout on your estate. While this can be done intentionally and with no ill intent (particularly for those who have minimal remaining family members), it should raise a red flag.
Loss of Legacy
When we are gone, one of the most important things we leave behind are our memories with loved ones. A bad experience in probate court can (and has) ruin otherwise good memories. In particularly messy cases, this can even change how people thought about us. This is proven even truer when family realizes how easy it is to avoid probate altogether!
Probate court is an obnoxious and painful process, but it’s almost entirely avoidable. Proper estate planning with a qualified attorney should be the first step for anyone looking to protect their family from the pain of probate. Give us a call today at 419-352-7522 and let’s see how we can protect your family.