The Pain of Probate - and Why People Like to Avoid It

As our usual tax day (April 15) came and went this week without our annual flurry to file, one thing remains certain – tax day will still come, just a bit later this year.

And that other thing we usually mention in connection with the certainty of taxes – yes, I’m talking about death – will never go away, either.

The thought of preparing for it can create a lot of anxiety. Especially right now when it’s a very front and center reality for a lot of folks these days, from people living in big cities to front line health care workers to parents in skilled nursing facilities. It’s on a lot of people’s minds these days.

Ignoring it definitely won’t make it go away. Pretending it doesn’t matter whether you do anything to plan now won’t make it easier for your loved ones when the … time comes.

But one question I get asked a lot (even by other lawyers) is “what’s so bad about probate?”

The answer is … really nothing.

Assuming you don’t mind the following:

- Having assets tied up “in the system” for months, sometimes years, until they can be distributed;

- Being subject to the court’s schedule, not your own;

- Having to figure out just the right combination of forms to file with the probate court to get the ball rolling – and not having the timer start until you get all the “t”s crossed and the “I”s dotted;

- Potentially dealing with a challenge raised by someone who had to get notice of the probate petition as a matter of law;

- Needing permission and approval of the court to sell assets whose values could be impacted dramatically by rapidly changing markets (think real estate and investments); and

- Having all the information potentially available to the public.

Some people are ok with all that. Most people aren’t.

It’s pretty easy to avoid probate with proper planning. Trusts, beneficiary designations, and titling assets appropriately can keep just about everything from having to go through the court process. How’s that sound?

The good news is it’s actually pretty easy to set things up now to allow your family to save a lot of headaches later.

If you would like to learn more about the process, what that may look like for you, and discover how easy it is for you to get through our systems on your own time, reach out and book a call. We’re always happy to have a quick chat to point you in the right direction.

In the meantime, don’t forget taxes are due in July this year. Stay safe, my friends!