The Ugly Side of Probate Court
Probate court definitely has its place, especially when a person passes away with no last will and testament or when there are conflicts among a person’s heirs. However, if you are planning to leave your estate to your loved ones, there are a few reasons to try and keep your assets out of probate court.
- It’s public record – Do you really want just anyone to be able to look up what your family received? It could potentially make them a target for scams, so it is better to keep these matters private.
- It can drain funds – You intend your savings to go to your family, but if probate court becomes drawn out, much of the inheritance could end up paying legal fees.
- It delays your beneficiaries from receiving their inheritance – Until the court works out what needs to go for taxes and other liabilities against the estate and who should receive the rest, the assets are effectively tied up and unusable. While probate court usually handles matters within a few months, there have been cases that drag on for a year or even several years while heirs have no access to the dwindling funds.
California Estate Planning Attorneys
If you want your loved ones to get as much of your estate as possible as quickly as possible after you pass on, the estate planning attorneys at Petrov Law Firm can help. Call 619.344.0360 today and schedule a consultation at one of our three convenient locations in southern California to learn more.