Probate Is A Long Process

Your assets must go through probate after your passing. Probate is useful, but quite long. And, probate can also be very expensive. Both of these things can make it hard for your beneficiaries to get what you would like to give them.

Going over the standard length of probate, and speaking with an estate planning lawyer at Millhorn Elder Law Planning Group will make it easier to protect your estate.

What Is Probate? 

Probate is a legal process used to validate your will. By having your assets go through probate, the court can determine that your will is valid. This allows your estate planning wishes to be granted.

Even though probate can be useful, it takes a long time. And, probate is also quite expensive: your beneficiaries may need to spend a great deal of money just to get the assets you wish to give them. 

How Long Is Probate? 

The answer to this question is “It depends.” And, more specifically, it depends on just how complex your estate happens to be, how busy the court happens to be at that moment, as well as whether or not any disputes arise.

In the event that you have a relatively simple, clean, and precise will, probate may take anywhere from nine months to 1.5 years.

The first part of probate involves petitioning the court and notifying any creditors you owe. And, right after that, the court needs to look at your assets to inventory what you own. This leads to the asset distribution process.

Your beneficiaries may try to dispute the validity of your will. This can make it take a lot longer than normal – up to several years, in fact – since the court will need to remedy those disputes.

On top of that, if your estate is particularly complex, probate can take more than several years. This is especially true if you die without a will, or any kind of estate plan documentation. 

What Should You Do To Bypass Probate? 

To bypass the probate process, you can develop a trust. And, then, you can put your assets into this trust. Putting your assets into this trust lets your assets go directly to your beneficiaries.

Just as an example, if you set up a trust for your daughter and put your electronics into this trust, then those electronics will go directly to your daughter after you pass. Your daughter won’t have to wait a long time for those items to go to her, nor will she have to pay any money to deal with the probate process.

Outside of bypassing probate, a trust does two more things: keeps your assets private – probate is public, and so are the assets that go through it – and protects your assets from creditors. 

Speak With A Florida Estate Planning Lawyer Today 

If you would like to develop a trust that bypasses probate, you must work with someone who can help you. Speak with a Florida estate planning lawyer today to develop the assistance you need. 

Sources: 

law.cornell.edu/wex/probate

help.flcourts.gov/Other-Resources/Probate