If someone dies without making an Estate Plan, their estate passes into Probate Court. Probate is the process by which a Judge in the state they lived in determines what happens to their belongings (their estate) and their money (their assets.) Creating an Estate Plan is the only legally valid way to have a say in these matters. Probate Court can be long, expensive, and emotionally taxing for families who have just lost a loved one.
The best way to protect your family from the conflicts of Probate Court is to prepare for the situation personally far ahead of time. Here are our 6 tips to help your family avoid probate conflict:
Make an Estate Plan! If you want to have a say in what happens to your estate, then make an Estate Plan! It is that simple. Clearly state your wishes in order for them to be carried out after your death. You can even choose the person who will personally carry out the orders of your Estate Plan.
Keep It Up To Date. If you have created an Estate Plan, it is important to keep it up to date. It could easily become invalid if you move to another state, for example, since state laws on Estate Planning requirements vary greatly. If you have divorced your spouse, updating it will ensure that your estate and assets will not end up still going to them.
Consider a Trust. Where a Will transfers all of your assets that are available upon your death, a Trust is continually funded throughout your life, similar to a savings account. It can go further towards helping your family, since it is actively funded by you and often with a specific cause in mind.
Communicate Where You Can. If there is some element of your Estate Plan that may be controversial - such as leaving someone out of it or dividing up your estate in a surprising way - consider communicating that yourself prior to your death. This will allow them to hear it from the source and avoid issues in the future.
Consider Leaving an Explanatory Letter. While certainly not an essential part of an Estate Plan, leaving a letter along with it may go a long way towards making your family understand that these wishes came directly from you and you had good reason to make them.
Get Good Help! Making an Estate Plan by yourself doesn’t hold up in court. You need an experienced attorney by your side to make sure everything will go as you would want it to. Contact Miller Law Firm PC today to get the help you need and protect your family from the tribulations of Probate Court. Our focus is to help our clients protect their loved ones and their own legacies by planning for the future in a number of different ways.