Why Do I Want To Avoid Probate?
The short answer is that probate is time-consuming and expensive. Probate can tie up your property for years in some circumstances, preventing your heirs from receiving their inheritance. All the attorney fees and state fees involved can take a major toll on the overall value of the estate as well. So it’s a good idea to avoid probate when possible.
Probate is a legal process in which the courts deal with your property after you die. The court will have to determine the validity of your will and then handle all debts, creditors, taxes and assets. This usually involves a mountain of paperwork and surely will require help from a lawyer. If you’ve been through any court proceeding before, you know that it is a slow moving and drab process. Probate is no exception, so you do not want to drag your family through it, especially during their time of grief. Probate is unnecessary, expensive, and time consuming. So you should definitely consider involving an estate planning lawyer early on to ensure that your estate is properly structured to avoid probate.
Reference: Lawkick.com/Basic Estate Planning tips
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