Wandering the airwaves, internet and radio are frequently scary stories of how tough probate can be. While there ARE states that can be very imposing, NY, CA and FL just to mention a few, often times the probate process can be easy and fast.
Complicated Probate Process?
We have personally helped probate double digit numbers of Estates and in several cases, actually stood in for the Executor due to geographic challenges, or other restrictive problems with showing up in person at the Court house.
This is an actual picture of the Probate Court from earlier this year …. where we were present Probating a Will.
Items to remember:
- Not usually complicated- some states can be
- Probate needed for real estate, non beneficiary titled accounts or ownership
- Creates a Letter of Testamentary
- Multiple or Joint Executors can complicate
- Not all Estates have to be probated
- Inventory of assets may be needed
- Effectively closes the Estate
One of the most crucial items for Probate to go smoothly, is organization up front.
Be sure to have good working and updated Estate Documents … and Probate should not be the nightmare many try to scare us into believing.!
Have a Great Day!
John A. Kvale CFA, CFP