Probate is a legal process that happens when a person dies, and it can feel quite overwhelming for those left behind. Common issues usually involve the validation and distribution of a dead individual’s assets.
There are compelling reasons to consider avoiding probate whenever possible.
Saving money and time
Probate can cost a lot of money because of court fees and other expenses. It also takes a long time, sometimes months or even years. During this time, beneficiaries cannot get their new items that previously belonged to the person who died.
Reducing privacy concerns
Probate is usually not private at all. Anyone can see what is going on with the dead individual’s assets in court records. This might be embarrassing or uncomfortable for the family. Avoiding probate can keep things more private and therefore, more calm and respectful.
Dodging family issues
Sometimes, probate can cause fights in families. People might disagree about who gets what amount of money or items or if the will is fair. This can make the whole process even longer and more expensive. It can also make things stressful for everyone involved.
Keeping control
In some cases when probate happens, the court gets to decide who gets what. This might not be what the person who died wanted. By taking steps to avoid probate, an individual can make sure their personal items go to people they care about right away after their death.
By planning ahead and using methods like trusts or joint ownership, people can make sure their assets do not face the annoyance and hassle of probate. Taking proactive steps to avoid probate can ultimately lead to a smoother and more efficient transfer of assets to the intended beneficiaries.
