Probate is a loaded word in estate planning, but it’s simply the court process that determines a will is legitimate and sets in motion the executor’s ability to take inventory of the estate, pay debts and taxes, and then distribute the remaining assets. The reason it’s often desirable to avoid probate is because the process can be lengthy and result in additional costs, not to mention it makes everything a matter of public record.
Avoiding probate can help certain property and assets go directly to named beneficiaries, essentially cutting out the middle man. By doing so, it can also save you money on taxes. In short, avoiding probate means less time and money invested before beneficiaries receive their inheritances. The seasoned estate planning attorneys at Perez Law Group, PLLC are experienced with probate issues, and can minimize the amount of property passing through the process.