Dying without a will puts your family in a difficult position. It now has to go through probate, which means going to court during a stressful time in your loved ones’ lives. It also means spending more money on court and legal support, and it means that there could be disputes between your beneficiaries and heirs.
The good news is that there are things you can do to avoid probate and minimize the risk of conflicts after you pass away. Here are three common problems families run into during probate and how you can help.
- Probate is expensive
It should be mentioned that probate is costly. As a result, many families have to spend money just to try to get the estate settled and to receive any inheritances that may remain.
To prevent probate, it’s important to have a will or trust in place, if not both, to assign specific assets to certain individuals or organizations. Doing this helps keep those items out of probate.
- It’s stressful needing legal support
If your will is not strong enough or you don’t have one, then your estate could end up in probate. Your family could be stressed by the need to find an attorney and bring them up to speed. To avoid this, work with an attorney now to create a will or trust. If a problem arises in the future, your family will already have someone who they can contact to help resolve court-related or legal issues.
- Disputes could happen after you pass away
When an estate goes into probate, it creates a situation where there is a greater risk of disputes between beneficiaries and heirs. To avoid this, have a will or trust set up that distributes assets. Talk to your family in advance about your wishes, so that they don’t feel the need to contest your will or the distribution of your assets after you pass away.
These are three issues that sometimes come up if an estate has to go through probate. Fortunately, your attorney can help you mitigate the risk of having your assets get caught up in this system.
Subscribe To This Blog’s Feed