My Civil Advocate

Probate is a legal process by which the court establishes the validity of a will; determines the value of the estate; resolves issues with payment of creditors, taxes, and other debts; and distributes assets to heirs. It also has some serious drawbacks. For one thing, probate is a public process; financial privacy goes out the window. Probate can also drag out for months, sometimes over a year, due to court hearings and other court-related matters. Last but not least, probate can be expensive. Attorney and executor fees can drain up to 5 percent of an estate's value in some circumstances. Throw in appraiser's fees and court costs, among other expenses, and heirs take a significant hit in the final estate distribution. There are a number of tools available to minimize (or eliminate) the toll probate takes on an estate. Properly designate beneficiaries or title assets so they transfer directly to beneficiaries (apart from a will) - e.g., life insurance policies, IRAs, annuiti...

Any time you lose a loved one it can be difficult as you cope with your grief and try your best to move forward. However, things can get a bit more complex (and possibly even confusing) if you've been named as executor of that person's estate. If that happens-- and especially if you've never served in such a role -- you'll likely have many questions about what the probate process entails, including how long it will take. Simply put, probate is the process of transferring legal title of the decedent's property to the rightful beneficiaries or heirs. Unfortunately, there is no hard and fast rule for the time it takes to complete probate. In fact, it can take anywhere from several months to several years There are many factors that can impact the length of time probate takes to complete, including whether: Any creditor claims exist There is property that needs to be sold The estate has federal or state tax liabilities There are disputes among the heirs or ...