Did you know……that probate is even a thing??
Did you know…
…that probate is even a thing??
We’re gonna start with the basics, probate is a court-lead legal process that occurs when a person dies that involves the validation and administration of their will OR the validation of the estate of a deceased person without a will. Probate can take years, and lots of money, along with administrative hell. It can also be pretty painless transaction, like if you live in Pennsylvania. How confusing is that?!?!??!
One thing you CAN do to help your survivors, is place all your assests into a trust. (Don’t just create the trust, fund the trust!) In most states this will ensure a quick transfer of your assets and spare them probate court.
IMPORTANT: Different states have different laws concerning probate and whether probate is required after a death where a will was present. Some states have a specified estate value; for example, probate laws in Texas hold that if the value of the estate is less than $75k, probate can be skipped.
The amount of paperwork after a death is intense, but the more you know about what to expect, the less jarring it will be later. The probate process is so specific to where you live and how much you leave, so trust us when we say it is worth it to find out what’s best for you.
Have you had a good or bad probate experience? We’d love to hear about it so that others can learn from you!
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