Probate Attorneys

Navigating the Probate Process with Ease

When a will is reviewed for its validity, it undergoes the probate process. In some cases, probate also applies to the administration of an estate for someone who passed away without a will.

In the event of a person’s passing, the court appoints an executor (either named in the will or chosen by the court) responsible for inventorying and collecting the deceased’s assets. The executor must settle the estate’s debts and distribute the assets to the beneficiaries as outlined in the will.

The probate process can be lengthy, lasting up to a year or more, and it often incurs significant costs, averaging between three to seven percent of the estate’s total value. To spare your family from the complexities of probate, consult an experienced estate planning attorney at Krugler Law to ensure your will is properly prepared.

When is Probate Necessary?

Probate is typically required under specific circumstances, such as:

– Absence of a valid will

– Challenges with the existing will

– Lack of beneficiaries for the deceased

– Need for probate to address creditors’ claims

While having a will can help avoid probate when it’s valid and properly executed, there are situations where a will may still end up in probate due to various issues, such as lack of notarization, proper signing, or compliance with state laws.

Understanding the Probate Process

Entering probate means the executor can’t immediately distribute assets to beneficiaries. The process involves the following steps:

1. File a petition to open probate.

2. Notify interested parties (beneficiaries) and creditors.

3. Inventory the estate’s assets.

4. Distribute the estate’s assets according to the will’s instructions.

5. File a petition to close the estate.

How to Avoid Probate

To bypass the probate process, setting up a trust before your passing is an excellent option. Trusts protect assets and financial interests from probate, and you can add various assets to the trust to prevent court division or unwanted beneficiaries. Additionally, you can explore other strategies, including:

– Gifting property before your passing.

– Establishing joint ownership for real estate (community property for married couples, joint tenancy with rights of survivorship, and tenancy by the entireties).

– Creating pay-on-death financial accounts.

– Joint ownership arrangements for other property.

– Utilizing transfer-on-death designations for vehicles, securities, and real estate.

– Taking advantage of estate provisions available in your state’s laws.

While a will may not guarantee avoiding probate, it can help reduce the process’s cost for your family and protect assets that might otherwise be subject to probate.

Consult Krugler Law for Your Probate Concerns

At Krugler Law, our compassionate and skilled team can address all your questions about probate, wills, and estate planning. Avoid the lengthy and costly probate process by establishing a robust estate plan now. Contact our office to schedule a consultation with one of our experienced team members today. We’re here to assist you every step of the way.