Probate isn’t inherently “bad,” but it can be problematic for a few reasons, depending on the situation and often requires the help of a specialized probate attorney to navigate, here’s why:
- Time-Consuming: Probate can be a lengthy process, often taking a minimum of 6 months or even years to complete, depending on the complexity of the estate and the court’s schedule.
- Costly: There are often significant costs associated with probate, including court fees, executor’s fees, and attorney’s fees. These costs can reduce the overall value of the estate.
- Public Record: Probate proceedings are a matter of public record, which means that details of the deceased’s estate and their financial affairs can become accessible to the public.
- Potential for Disputes: The probate process can sometimes lead to disputes among family members or other interested parties, especially if the will is contested or if there are disagreements about the distribution of assets.
- Complexity: Navigating probate can be complicated, involving various legal requirements and paperwork. This can be especially challenging for those who are not familiar with the process or who are dealing with the process while grieving. Typically, a probate attorney will need to be hired to help the family navigate this process.
- Delay in Distribution: Until probate is completed, heirs and beneficiaries may not receive their inheritance, which can be frustrating and financially challenging for them – especially if there is a house with a mortgage and utility bills due.
Despite these issues, probate is a legal process designed to ensure that a deceased person’s estate is settled properly and fairly, adhering to the laws and their wishes as expressed in their will. In some cases, the drawbacks of probate can be mitigated through proper estate planning, such as using revocable living trusts to avoid the probate process all together.
If you have lost a loved one, we can help you through this process. Schedule a consult with us today by clicking HERE.
