Probate is the process by which a court authenticates the will of a deceased person. The process involves determining the value of the deceased’s estate, which comprises of their assets. Afterwards, the executor pays the final bills and taxes and distributes the residual value of the estate (if any) to the rightful beneficiaries.
Concerns about the probate process:
- Public – Probate is a public process. There are risks from family members, creditors, and sometimes court challenges.
- Costly – Probate, estate, legal, accounting, and executor fees are some of the expected costs. The unexpected costs come from specialists and unintended beneficiaries. These can and do add up quickly.
- Delays – The probate process can take an exceptionally long time and causes delays to the intended beneficiaries.
Having your will, insurance, and investments with clearly named beneficiaries will bypass probate. Call us. We are happy to help you and your loved ones understand products that can save money and time.
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