The process of probate is necessary for when it is time to distribute any accumulated assets of a deceased or incapacitated individual. In this probate process, a substitute is appointed to act on behalf of the one who actually originally owned the property and assets. The responsibility of this appointed person is to make sure that the creditors are paid, and the estate is fairly distributed to the selected individuals.
The greatest disadvantage of the probate process is the sheer amount of time it takes to get everything done. If a person passes away, the probate process often takes a minimum of four months, but usually much longer than that. The more assets a person has and the more layers their case has, the longer it will take for their loved ones to receive their inheritance. The probate process can also be very costly. The family will have to secure lawyer fees, personal representative fees, and deal with court costs as well as the chance of encountering multiple probates across multiple states.
The entire development can be very taxing on an emotional and financial level and if a person wants to try and avoid the process, they should link up with an estate planning lawyer as soon as possible to learn about all the options that are available to them. Creating a detailed estate plan and appointing a trust can help a person avoid probate and any excess estate taxes that will likely be imposed on their property if they pass away without a last will and testament.
Will creating a will avoid the probate process in Saint George, Utah?
A will alone does not avoid probate. The purpose of a will is to direct the probate court on how to properly distribute any wealth after a person passes away and to inform them who the personal representative is.
There are different forms of wills; both simple and complex, and they all require that certain legal rules be followed when making them so they can be carried out effectively. A lawyer can guide a person on what steps they should take and give them the information they need to secure their assets and make the route for future distribution as easy as possible.
Anyone who wants to create a will or who wants advice on avoiding probate should reach out and speak to an estate planning lawyer at the Law Office of Barney, Mckenna, and Olmstead today.
Reach them at:
43 South 100 East
590 W Mesquite Boulevard