If your loved one has recently passed away, you probably want his or her assets to be transferred to the rightful descendants as quickly as possible. Unfortunately, there are a lot of situations where someone might end up in probate court. If there isn’t a will that specifies who should receive the remaining assets, those assets might be transferred to probate court. There, a lengthy and expensive judicial process will play out where hearings are conducted to determine who should receive what assets. If you want to avoid this process, you should consider hiring a probate attorney who can help you. What are some of the top reasons why you should do your best to avoid going to probate court?
1. You Can Save Time
One of the biggest benefits of staying out of probate court is that you can save a significant amount of time. It is not unusual for the probate process to take months to play out, and that is usually fast for probate court. If the estate is exceedingly complex, or if there are a lot of other issues that are brought up, probate court could take multiple years. If it is possible for assets to be transferred using other means, such as through a trust, the process can go much more quickly. Reach out to a probate attorney to learn more about how you can save time.
2. You Can Save Money
Furthermore, you can save a significant amount of money if you stay out of probate court. It is not unusual for the cost of administering the estate through probate court to cost five percent of the total assets of the estate. This can be an extremely large sum of money, and you would probably like to minimize the potential fees associated with the transfer of inheritance. That is why you need to develop an estate plan with the help of a probate lawyer. You can save money, ensure your assets end up in the right hands, and pay fewer fees.
3. You Can Avoid Stress
In addition to the time and money involved in this process, probate court can be incredibly stressful. If you have to go to court immediately after a loved one has passed away, it can be very unpleasant. You might not be able to think straight because of all the emotions you are experiencing, and your loved ones will probably not be happy to be there either. The emotional toll of having to go to numerous court hearings can be significant, and you can avoid this if you work with a lawyer who can help you stay out of probate court.
4. You Can Preserve Your Privacy
If you go to probate court, it is just like any other court system. In this country, we have transparent court hearings because we value transparency, but it also means that virtually anyone can set foot in court and listen to people testify about what should happen to the assets of a loved one who has passed away. If you are transferring your well from one family member to another, you would probably prefer this transfer to be private. There are other ways to handle your inheritance that will preserve your privacy, so consider working with a probate lawyer who can make that happen for you.
5. You Can Avoid Contesting The Desires of Your Loved One
Finally, you can also avoid having to contest the desires of your loved one. One of the determining factors that the court will use for deciding what to do with the assets is what your loved one wanted. Unfortunately, people may have different views of what should happen to the assets. If there is a trust in place, you do not need to worry about having to argue over what your loved one may have wanted. This can significantly impact the way your loved one is remembered, and you probably want to avoid this type of arguing. Work with a probate attorney who can help you stay out of probate court and protect the memory of your loved one.
Avoid Ending Up in Probate Court
In the end, these are just a few of the biggest reasons why you should try to do everything you can to stay out of probate court. There are a few ways you can avoid going to probate court, but the best way to avoid this situation is to work with an attorney who has experience in this area. A trained lawyer can help you make sure as much of your wealth ends up in the right hands as possible. That way, there is a streamlined transfer when it is time for your assets to be passed down. Consider reaching out to an attorney who can help you preserve as much of your hard-earned wealth as possible.