2 Common Probate Problems And Their Solution

Right before your assets can be given to your chosen beneficiaries, they may need to pass through probate.

If you can, you should develop an estate plan that allows those assets, and your estate plan, to avoid probate. But, if you don’t do this – or aren’t sure if you should – then there are two common probate problems you must be aware of.

Going over the two most common probate problems and clarifying their solution, while speaking with a lawyer at Millhorn Elder Law Planning Group will allow you to protect your estate.

What Is Probate? 

Probate is a court process that allows the assets owned by a deceased individual to be transferred to their beneficiaries.

Just as an example, if you pass away, and have a house and a car that you would like to give to your son and daughter, these assets may need to go through probate.

The goal of probate is to ensure that assets are transferred in a legal manner, while also allowing debts, and other problems, to be dealt with.

If you choose to employ certain estate plan arrangements – a living trust, for example – you can avoid probate, which makes it easier for your beneficiaries to get their assets quickly, without any notable issues.

What Are The 2 Most Common Probate Problems And What Are Their Solutions? 

Problem 01: A Claim From Creditors 

If you pass away, while owing money to an individual or organization, then they can file a claim against your estate.

The goal of filing a claim against your estate is to satisfy the debt that you owed them.

Just as an example, if you pass away while owing medical debt, then your estate can be hit with a claim that allows them to obtain payment for that debt.

If your beneficiaries aren’t expecting this, then they may be surprised when these claims need to be settled, which can be expensive and time-consuming.

The solution to this problem is as follows: have someone send out a Notice to Creditors and, then, have them work with a lawyer who can help that person deal with the claims that your estate is facing. 

Problem 02: Disputes From The Beneficiaries 

Some beneficiaries will receive less than they would like. And, in the event of your passing, there is a chance that those beneficiaries will attempt to dispute an aspect of your estate plan.

If one beneficiary receives a car, while the other receives a house, then the beneficiary who receives the car may dispute the validity of the will during probate, creating a lengthy, and expensive, court battle.

The best way to resolve disputes, before they happen, is to deal with them before you pass away. You can also hire a lawyer who is prepared to deal with disputes, if they arise.

If possible, though, you can, and should, invest in an estate plan that allows you to develop provisions that prevent disputes.

Just as an example, you can develop a provision, in a living trust, that allows anyone who files a dispute against the estate to have their inheritance withdrawn.

Speak With A Florida Estate Planning Lawyer 

If you would like to develop an effective estate plan, then you must obtain the necessary legal help. Speak with a Florida estate planning lawyer today and we will help you obtain the best possible outcome. Call the Millhorn Elder Law Planning Group.

Sources: 

law.cornell.edu/wex/probate

law.cornell.edu/wex/living_trust