Avoiding Probate

“Who’s Sitting on Your Nest Egg? Pg 59-60

In Merriam Webster’s Collegiate Dictionary, 11th Edition, probate is defined as “the action of proving before a competent judicial authority that a document offered as official recognition and registration as the last will and testament of a deceased person is genuine.”

With the guidance of a qualified financial advisor and an experienced estate planning attorney, the need to submit to the probate process may be eliminated. When an estate must go through probate, it can be very time-consuming and expensive, resulting not only in needless delays in settling the estate and distributing its assets, but in major tax consequences that could have been eliminated had probate been avoided.

Having already suffered the loss of a loved one, the probate experience-often extending over several months or, in some cases, for more than a year-can be a traumatic one for a surviving spouse and other loved ones. That’s especially true when the surviving spouse and the other heirs have no other sources of income and are in urgent need of funds which, with proper planning, could have been readily available but instead are locked up indefinitely as the probate process drags on. And, when the funds finally do become avaible, they’ve been reduced by court costs and attorney fees.

Buy Now