Probate

Probate is the process of having a court authenticate the will as valid and appoint a legal representative to act on behalf of the estate to pay creditors and distribute the deceased person’s assets.  A personal representative is legally obligated to comply with state laws and IRS regulations.

Most Attorneys Advise Minimizing or Avoiding Probate Altogether. Here’s Why:

There are no guarantees as to what will happen after your death if you use a will. Probate is the judicial implementation of a will.

In most states, the process is slow and can tie up assets for a long time. The time delay can prevent your rightful heirs from finalizing your estate in an expeditious manner.

The cost of probate can be expensive; it can eat up a significant value of your estate. Most clients would want the money to go to their loved ones.

A trust is much more difficult to contest than a will and is not subject to the vulnerabilities of the probate process. Nor does the will protect assets from the claims of creditors.

A well-crafted trust can minimize your costs and asset-protect your estate.

Jim will review your situation and advise the best avenue to protect and preserve your estate.