Can Probate Be Avoided?

You should know some things about the probate process when you are planning your estate. If you use a last will to direct the distribution of your personally held property, the property would become probate property at first except in the case of a modest estate. During probate the probate court supervises the administration of the estate. The heirs to the estate typically do not receive their inheritances until this process has run its course. A simple and straightforward case will typically pass through probate in about a  year. This time lag can cause difficulties for some inheritors. In addition to the time consumption, there are various costs that can pile up while the process is underway. Everything that is spent during probate would have otherwise gone to the heirs. The good news is that there are a number of different ways that you can get assets into the hands of your loved ones outside of probate. Payable on Death Accounts When you open a bank account or a brokerage accou


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