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Understanding Probate and Ways You Can Avoid it

Posted on in Estate Planning

Medina County estate planning attorneyNobody likes to think about what happens after one’s own death, but it is one of the smartest things you can do while you are still here. It is may not be pleasant to think about your death, but planning what will happen to your affairs after you die can make your family member’s lives a million times easier. 

It does not matter your age; everyone can benefit from creating an estate plan. One of the considerations you should make when creating your estate plan is how you can avoid a process called probate. And trust us -- you will want to avoid it.

What is Probate?

In basic terms, probate is the process that your estate goes through to distribute your property after you die. The executor of your estate is usually the one who begins the probate process. To begin the process, a probate court will begin validating your will. The court will then authorize your estate’s executor to distribute your assets in the manner that your will dictates. If you have no will, your estate will be distributed according to standard intestate laws.

Reasons to Avoid Probate

Many people craft their estate plans so that they can avoid probate. Even though having a will can help your estate executor distribute your assets after your death, it does not allow you to avoid probate, which can be a pain in the neck. Here are a few reasons you should try to avoid the probate process:

  • It can take years for a court to finalize the estate, especially if the will is contested or there are complicated provisions in the will;
  • There are quite a few fees associated with probate. You will have to pay executor fees, attorney fees and other administrative expenses; and
  • You cannot keep the probate process private. Probate is a legal proceeding, which means that it becomes a public record.
  • How to Avoid Probate

Thankfully, there are a few ways you can avoid probate. These ways can include:

  • Having your attorney draft a revocable living trust;
  • Giving away property;
  • Establishing joint ownership of property; and
  • Making accounts payable on death.

Hire a Medina County Estate Planning Lawyer to Help You Plan For Your Family’s Future

Nobody wants to think about what happens after they die, which is why you should contact a skilled Wadsworth estate planning attorney to think about it for you. At Erb Legal LLC, we understand how emotional estate planning can be for you and your family. Our compassionate attorneys can help you create the ideal estate plan, including one that can avoid probate. Call our office today at 330-368-4499 to schedule a free consultation.

Sources:

https://www.nerdwallet.com/blog/investing/what-is-how-avoid-probate/

https://www.estateplanning.com/How-to-Avoid-Probate/

 

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