How do wills and probate laws affect families waiting for an inheritance?
When an estate must be probated, the probate process could take around a year or longer and the costs could equal a substantial percentage of the total value of the estate. Because of the high costs and the long wait, the probate process can affect families waiting for an inheritance in many undesirable ways.
Family members may find it stressful to go to court as they cope with the grief of a loved one. They may be concerned the executor of an estate is not fulfilling his obligations to keep property safe and transfer it quickly to new owners. They may also be in financial trouble if they were dependent upon the income of the deceased and they cannot access estate assets because the estate is tied up in the probate process.
Many people will choose to make a comprehensive estate plan to avoid the probate process so their families are able to inherit more quickly without the costs, stress and delays that are associated with probate. Zimmer Law Firm can help.