What is Probate and how to avoid it?

This article is written by Crystal Henson.

Probate is actually a verb and it is the legal process that takes place after someone dies. The Court determines if the deceased person’s will is valid or invalid and requires inventorying and accounting of his or her estate for the benefit of the deceased person’s heirs. After this Court proceeding is held, then, and only then, can the estate assets be distributed to the deceased person’s heirs.

The biggest myth circulating is that a Will avoids probate. This is simply NOT true. A Will is actually written for probating! This does not mean that Wills are unnecessary. Wills are a good “back-up” plan, just in case you miss something; however, a Will cannot, and should not, be the end of your estate planning.

Most of us want to make our passing as simple and easy on our friends and loved ones as possible. We do not want them to have to deal with the hassles of going to court and taking the extra time required to obtain “official” clearance to deal with the tangible items we leave behind. Probate court can involve considerable time and cost and leave the assets in your estate sparse.

Therefore, it is important to take the necessary steps to plan ahead. With good planning you will only have some personal and sentimental items left to be disposed of after your passing. Those small items can be easily taken care of because you did all of the “heavy lifting” well in advance.

Let Crow & Associates be your guide through the sometimes murky waters of estate planning. We can help develop a packet to fit your personal needs and leave you feeling confident that your final wishes will be understood.