BOO! Did I scare you? No? Okay… how about this: PROBATE!
Now that one probably gave you chills. Honestly, the thought of probate is enough to give most people more nightmares than Freddy Krueger.
And trust me, I know. I’ve sat on both sides of it – working at the probate court and watching my own family slog through the process for over four years. To borrow a line from our very own Marie Guertin: “Consider yourself lucky if you’ve never experienced probate.”
So, whether you’ve never heard of it, or you’ve got your own probate horror story, we’re here to shed some light on this haunting process. If you want the full deep-dive, check out: Why Probate S*cks and How to Avoid It.
But if you’re only sticking around for the short version, let me be your spooky tour guide…
What is Probate?
Probate is the court process we use to transfer assets from someone who has passed away to whoever is supposed to inherit them when the asset itself doesn’t tell us.
For example: if spouses’ co-own real estate and one passes, the other automatically takes ownership.
Simple, right? But when that second spouse dies, or when assets are owned by just one person, things can get tricky. If there’s no built-in direction on where it should go, we have to bring those assets to the probate court for direction.
But I Have a Will!
That’s great! And a will is an important piece of the puzzle. But here’s the kicker: a won’t avoid probate. It just gives the court instructions to follow. So, while a will helps guide the process, it doesn’t save your family from it.
The Scariest Parts of Probate
Not only is probate a headache, but it comes with some pretty unpleasant downsides:
- Public: Probate is public record. Anyone can look up who’s inheriting what and when, which makes it a goldmine for scammers.
- Expensive: Court filing fees and attorney costs can easily run $5,000–$7,000 (or more). And guess what? It all comes out of your estate.
- Slow: Probate cases must stay open for at least a year, but many drag on for 2 years… and some stretch even longer.
How to Avoid Probate
Here’s the good news: probate isn’t inevitable. There are smarter, faster ways to pass your assets. Some common strategies include:
- Utilizing a trust
- Confirming beneficiary designations
- Titling assets with joint ownership
Of course, not all methods are created equally, the best approach depends on your bigger-picture goals.
Fully Informed Decisions
At Ingle Law, we believe estate planning isn’t about pushing your family into a plan, it’s about helping you make fully informed decisions. Whether you decide probate isn’t so bad, or you’d rather make sure your family never has to deal with it, we’ll create a plan that fits your goals.
Because while it might feel easier to avoid estate planning (like avoiding the boogeyman under the bed), leaving your family unprepared is far scarier.
Book a Discovery Session with us today and take probate off your family’s list of nightmares.
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