Welcome to the Law Office of Andrew Fesler. Today, let’s talk about a common topic that often comes up when planning your estate—probate. You may have heard that probate is something you want to avoid, but why is that? In this video, we’ll examine what probate is, why it can be a lengthy and costly process, and how you can take steps to avoid it, ensuring a smoother and less stressful transition for your loved ones.
Transcript:
” Probate’s a process by which the heirs of a person who’s passed away, either with a will or with no documents at all, “proves” that they’re the people who are entitled to inherit the assets of the deceased person. It’s a really ancient process, just like will law is really ancient. It goes back to the Middle Ages in England. In California, it can be lengthy. It takes a year, 18 months, maybe longer if there are conflicts, and it can cost between 1 and 4% of the overall estate value in attorneys fees alone. The fees are statutory so they’re locked in, and there’s really not any way to avoid them once you’re into the probate system.
Because of that and also the fact that probate is a public process, it’s a court case just like any other, and while there are some filings within probate that might be confidential, for the most part, the probate process is meant to be public so that any creditors or claimants on the estate can come forward and know that the process has begun and that the deceased person’s assets are being distributed. For the privacy reasons, for the expense reasons, and for the lengthy process that’s involved, a lot of people want to do a trust to avoid that.”
Effective Estate Planning Can Help You Avoid Probate
Avoiding probate is an important part of effective estate planning. We’re here to help you navigate this process with ease. If you have any questions or need assistance with your estate plan, don’t hesitate to contact us at the Law Office of Andrew Fesler. Let’s work together to protect your assets and ensure your wishes are honored.
