Probate Avoidance Techniques
Utilizing a will to determine the outcome of your estate requires the entirety of the estate to pass through probate. The probate process is expensive, time-consuming, and open to the public. The probate court is in control of the process until the estate has been settled and distributed. If you are married and have children, make certain that your surviving family has immediate access to cash to pay for living expenses while your estate is being settled.
It is not unusual for probate courts to freeze assets for weeks or months while trying to determine the proper disposition of the estate. Your surviving spouse may be forced to apply to the probate court for needed cash to pay current living expenses, causing undue stress. With proper estate planning your assets can pass onto your loved ones without undergoing the probate process in a manner that is quick, inexpensive and private.