As soon as one begins looking into estate planning and creating a plan to leave property to heirs and beneficiaries, it doesn’t take long to run up against the looming possibility of probate. When an estate passes through probate, the state assumes an individual’s estate and distributes it, but at great potential expense to the value of the estate and significantly increasing the amount of time that beneficiaries must wait to receive anything.
For many individuals, estate planning focuses on circumventing the probate process entirely or working to reduce the portion of one’s estate that the process affects and the amount of time it takes to resolve the matter. While avoiding probate is not always possible, it is generally better for all parties involved for anyone with significant assets to consider how they might deal with probate before the state steps in.
If you believe that your estate may have to pass through probate, it is wise to address this issue as soon as you can, with great attention to detail. You may find that you have more legal tools and opportunities available than you realize to protect your estate and your interests.