| The Probate Process |
| Why is the probate process so bad? That depends on who you talk to and what their experience was. One of my clients went through nightmare litigation with family members in a California probate which apparently started three years prior. Much of the family inheritance was spent on attorneys and costs. Naturally, to this person the probate process is a reminder of painful memories. Probate is like any process in that it isn't "bad" nor is it "good." Many families have had probates completed without serious problems or unreasonable delays. There are numerous disadvantages that can be discussed about avoiding probate, and that is why many people choose to avoid probate. Using good estate planning tools can help you avoid unnecessary legal fees and costs, delays, taxes, and exposure. Probate can be expensive, because of fees paid to the attorney, to the personal representative or executor, and perhaps to other professionals. Total costs will vary depending upon your state of residence. In California, attorney's take a percentage of the estate (hence huge fees from the death of a wealthy individual), but in Washington, for example, fees are hourly based, so that a typical probate will cost $2,000 to $3,000. Of course, that can be much more depending upon the size and work involved for a particular estate, and the kinds of issues raised by family members or others. If litigation is involved, the legal fees and costs can skyrocket. Continue |
| Copyright 2005-2006 by FreeRealEstateLaw.com and Charles E. Marunde |
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| Estate Planning & Asset Protection |
