Probate refers to a court action that distributes property after a person has passed away. This resolves and settles the person’s personal affairs as well as the financial ones. If an individual owes money, the creditors are notified and given their portion of the estate. The deceased’s remaining assets are then distributed to the heir and beneficiaries.
People typically try to avoid probate at all cost during the estate planning process. Usually, probate is viewed as a costly and expensive procedure that is harmful to the people involved. However, individuals are generally unaware of the many benefits of the probate process. While in some cases the process can take an extended amount of time and involve more expenses, there are many positive aspects of probate.
Here are some of the benefits of probate:
- The court validates the will – In order for a will to be admitted, the court has to confirm that it is accurate and obeys all state laws. This can help avoid any confusion or debate over a will’s validity in the long run.
- Estate administrators will be observed – Anything the administrator does will be supervised by the probate court; this ensures that everything is done properly. This also protects any beneficiaries, and allows you to be assured that the actions are accurate.
- Makes it easier to resolve conflict – The probate court will provide a forum for you to dispute any objections to the process. Often families clash over guardianship and conservatorship. The probate court will make your resolutions official and legally binding.
- Creditors have a limited window to file – Typically creditors have a few years to file a claim after a person has passed away. However, with probate, creditors typically only have a few months as the process is being wrapped up.
Without proper legal counsel or guidance, probate can quickly become expensive and costly. However, by being prepared ahead of time, the process can be very smooth. When considering how to efficiently navigate the probate process, it is best to get the representation a trusted legal professional. The Creek County attorneys from the office of G. Gene Thompson, Attorney at Law can help by listening to your concerns and providing insightful support through each step.