Page 29 - Southern Exposure - September '19

Southern Exposure, Page 29

elder eSTaTe plaNNINg

The Pros And Cons Of Probate

Submitted by Anné Desormier-Cartwright, Esq.

In estate planning circles, the word “probate” often comes property of the deceased if no will was left. personal family and financial
with a starkly negative connotation. Indeed, for many people • It validates and enforces the intentions of the deceased if information become public
– especially those with larger estates – financial planners a will exists. knowledge.
recommend trying to keep property out of probate whenever • It ensures taxes and claimed debts are paid on the estate, • There may be considerable
possible. That being said, the probate system was ultimately so there’s a finality to the deceased person’s affairs, rather than costs, including court, attorney,
established to protect the property of the deceased and his/her an uncertain, lingering feeling for the beneficiaries. and executor fees, all of which
heirs, and in a few cases it may even work to an advantage. • If the deceased was in debt, probate gives only a brief get deducted from the value of
Let’s look briefly at the pros and cons of going through probate. window for creditors to file a claim, which can result in more the estate.
The Pros debt forgiveness. • Probate can be time-
For some estates, especially those in which no will was The Cons consuming, holding up
left, the system works to make sure all assets are distributed While probate is intended to work fairly to facilitate the distribution of the assets for
according to state law. Here are some potential advantages of transfer of property after someone dies, consider bypassing months, and sometimes, years.
probating an estate: the process for these reasons: • Probate can be complicated and stressful for your executor
• It provides a trustworthy procedure for redistributing the • Probate is a matter of public record, which means and your beneficiaries.
Bottom line: While probate is a default mechanism that
ultimately works to enforce fair distribution of even small
estates, it can create undue cost and delays. For that reason,
many people prefer to use strategies to keep their property out
of probate when they die.
A skilled estate planning attorney can develop a strategy
to help you avoid probate and make life easier for the next
generation. For more information about your options, contact
us today to schedule a consultation.
If you have questions about this or your estate plan and
what documents are necessary schedule a consultation today
by calling our office at (561) 694-7827, Anné Desormier-
Cartwright, Esq., Elder and Estate Planning Attorneys PA,
480 Maplewood Drive, Suite 3, Jupiter, FL 33458.
747-PALM The content of this article is general and should not be relied
upon without review of your specific circumstances by competent
747-7256 legal counsel. Reliance on the information herein is at your
own risk, as it expresses no opinion by the firm on your specific
circumstances or legal needs. An attorney client relationship is
not created through the information provided herein.

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