what are the drawbacks in probate?
DESCRIPTION
Learn more about the probate process in Indiana and why you would want to avoid probate in this presentation.TRANSCRIPT
WHAT ARE THEDRAWBACKS OF
PROBATE?
LAST WILLS
The last will is the most COMMONLY USED estate
planning document
You can express your final wishes regarding the transfer of your assets with your will
A SIMPLE SOLUTION?
You may assume that your heirs receive their inheritances
quickly and efficiently when you use a last will
A will can seem like a very simple solution
The Process of Probate
In reality, things aren't as simple as they may seem
The last will must be admitted to probate before inheritances can
be distributed
Estate Administration
Probate is the legal process of ESTATE ADMINISTRATION
It provides certain protections, but there are some inherent
drawbacks
Time Consuming & Expensive
Probate is time-consuming
At minimum it takes months
Complicated cases can be stalled in probate for years
There are also considerable expenses that can accumulate
during the probate process
Loss of Privacy
Another drawback of probate is the loss of privacy
Probate records are available to the general public
Anyone who is interested could find out how you planned your
estate
Probate Avoidance Consultation
It is possible to arrange for future asset transfers outside of
the PROCESS OF PROBATE
To explore your options, contact our firm to schedule a free consultation
