Estate Planning Lawyer
A part of the process of distributing one’s possessions after his or her death is called probate. If you are considering your options for planning your estate, you have probably heard this term before. Most of the time, probate comes up as something you should try to avoid, and that avoiding probate is one of the biggest advantages of using a trust instead of a will. The exact way probate works depends on which state you live in, which is why you should always speak with an estate planning lawyer. However, this guide will go over the basics so you can understand if you really should make an effort to avoid probate.
What Is Probate?
Probate is the first step in carrying out a will. Recognition is given to the will and if necessary, the court or the power of attorney appoints an executor. Many people appoint their own executor, which will save time when a will enters probate. Next, all accounting and administrative responsibilities are taken care of for the deceased wishes to be carried out. There are claims out there that probate can last months or years, which is alarming. While it is technically possible for probate to last a long time, it is rare. This also only happens if the will is not properly set up. If every box has been properly ticked prior to someone’s death, then probate should be short and inexpensive.
Should You Avoid Probate?
Despite what you may have heard, it is not a universal rule that you should try to avoid probate. In some cases, it may be beneficial to avoid probate, and in other cases it may be most beneficial to have a probate. For especially complicated estates, probate may take longer or be more expensive. In these cases, using a trust may cost less and be simpler for everyone.
On the other hand, probate is essentially the court system overseeing a will. This grants a certain level of accountability that would be lost if probate is skipped entirely. The important thing to remember is that probate is simply a part of the process, and it is not as calamitous as many people claim. Avoiding probate may or may not be the best option for you specifically. That is why it is so important to speak with an estate lawyer in Roseville, CA to figure out what your best option is. Because the option that is best for you is going to be different from the best option for someone else.
Thanks to the Yee Law Group for their insight into estate planning and avoiding probate.