Probate
Problems with Probate
Unfortunately, when assets are left to beneficiaries through a simple will or without a will, the assets of the deceased individual are accessible to the public. Anyone can find out what assets a person had when he or she died and can discover who has inherited it. Also, when someone dies without a will or his or her will does not have an explicit waiver provision, the individual who is appointed to distribute the estate must pay to have a bond posted with the probate court. Probate is also more time consuming and expensive than estate or trust administration.
Avoiding Probate
Some of the expenses and formalities involved with probate court can be minimized through the use of trusts. A trust will also keep information private. A small estate affidavit may be used to avoid probate for an estate that has less than $100,000 in probate assets and does not include real estate.
