A legal process used to give recognition to a will and appoints an executor to administer the assets to the intended beneficiaries in a will or estate plan. Since estates and wills can be complex, it is important to meet with a Utah attorney to ensure it meets all requirements. LeBaron & Jensen has years of experience dealing with wills and estate planning.
Should You Avoid Probate?
Probate is a term that is thrown around in the legal world often. Some people hear terrifying stories of loved ones dealing with disputes and expensive taxes and fees for years. While others have a smooth transition. A living trust is normally designed to help your loved ones avoid probate following your death.
Probate is the court-supervised process to ensure assets from your estate are transferred correctly following your death. However, certain types of property will be able to pass without the need to go through probate. Retirement plans and life insurance are those that commonly pass without the need for probate. Real estate holdings and bank accounts can have joint names with right to survivorship requirements that must be legally met to pass through to the beneficiaries.
How Long Does It Take
Normally settled in 4 to 9 months. However, some cases can last years due to disputes between family members or complex property issues. Which can be delayed for tax return issues as it must be filed and cleared by the IRS. The estate size will determine the amount of time it will take to pass.
Contact LeBaron & Jensen for more information, to establish your will and estate properly to prevent your loved ones from unnecessary taxes and other issues.