August 7, 2013

Probate can be costly

The probate process is one that is confusing and aggravating for many Floridians. They are in the process of coping with loss of a loved one and now they are required to hire an attorney in order to carry out their loved one’s wishes. This is further exacerbated if the loved one didn’t have will – there can be a fight over who is the personal representative (often known as “executor”) of the estate. This can create lengthy and expensive litigation.

Probate can take a long time

Even if there is a will, it is not uncommon for the probate process to take months or years before there is resolution and the assets of the deceased are transferred. This results in your assets being tied up by the courts when it could be going to benefit your children or grandchildren.  Lastly, in probate, both the personal representative and the attorney representing the estate are allowed to charge a percentage of the estate as their fees for the activities they’ve carried out on behalf of the estate. Obviously, if the estate is even a modest amount, this can add up very quickly.  Fortunately, there is an alternative!

Avoiding Probate isn’t Difficult

While we at the Hoatson Law Firm are well versed in the probate process and are happy to help our clients through it, we recommend considering alternatives to probate when available. These suggestions may come in a myriad of forms – titling property and assets effectively, utilizing trusts, and making lifetime gifts. If you are interested in avoiding probate for your loved ones, please contact the Hoatson Law Firm to set up a consultation where we can discuss the options available to you.

 

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.