One of the most common questions for anyone approaching the prospect of estate planning has to do with making things easier for their beneficiaries.
Having fully documented plans and consulting directly with an estate planning lawyer are some of the most important things you can do to minimize the additional challenges and frustrations that your loved ones may face after you pass away.
Probate refers to the official process of your estate being reviewed by the court system before the assets are distributed to your heirs. This depends largely on the state in which you live. Since each state has their own limits associated with the size of an estate, it is important to consult with an estate planning lawyer well in advance to understand what additional issues may affect your estate.
Probate is a public notice of your death and can also trigger creditors to file claims against you. After all the creditors have been paid on your estate, the remainder of your estate goes out to your beneficiaries. In the event that you don’t have a will, however, the state will determine how to distribute your property. Probate becomes automatic unless you do something purposely to avoid it.
The long process of probate can take up to one year and can lead to unnecessary legal fees and make things more complicated for your loved ones. Consulting with a lawyer in Valdosta can assist you with determining the appropriate strategies to remove as many assets as possible from probate.