The word “probate” has the tendency to instill discomfort and even fear in the people it affects. However, entering into the probate process can have some very positive benefits for all involved. Ensuring this positive probate experience all boils down to how you prepare for it.
Some things you can do to ensure a smooth probate process are:
- Cover key components in your Will such as care for any dependent children or pets
- Identify a personal representative that can help ensure your wishes are carried out after your passing
- Have a qualified attorney prepare your Will
Should your estate enter the probate process anyway, fear not! Here are some key advantages of having your estate enter Probate:
- If a Will exists, probate will validate and enforce the wishes of the decedent
- If no Will exists, it provides a trustworthy source to oversee the distribution of the decedent’s assets
- Probate makes sure that debts and taxes are paid on the estate—so that any beneficiaries won’t have to
- Probate provides a very small window for creditors to make claims on an estate, which often results in increased debt forgiveness
- Probate can help smaller estates distribute assets, that may have not had the financial resources for more detailed estate planning during their lifetime
While most literature suggests that having your estate enter into probate is a negative thing, it is far from that. If you still have concerns about your Will, the lack thereof, or potentially having your estate enter into probate, you should speak to an experienced elder law attorney.
The team at Estate and Long Term Care can help you with any of your estate planning needs. Give us a call at (509) 447-3242 to speak with someone who eases your mind, and gets your estate planning on track.
Written by ELTC Law Group
