Many Californians are understandably curious about why they should want to avoid the probate process; here are some good reasons why:
Probate ties up finances. When someone dies and their estate must go through probate, all the financial assets of the estate are frozen until probate is completed, which can take months or, in some extreme cases, even years. Meanwhile, family members must foot the bill for expenses until those assets are available.
Probate interferes with family business. If you want to sell a decedent’s business or take action with any other asset, you will not be able to do so without approval from a probate judge. The only way to avoid this type of interference is to avoid probate altogether.
Probate can be expensive. California has a lengthy schedule of probate court fees for a variety of probate procedures that can add up quickly.
Probate records are public. Any estate that is probated in California is public record, so anyone can gain access to information about the deceased’s estate and financial information. You can keep these records private by avoiding probate.
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0042.