why you may want to keep your family out of probate court: a guide for residents of ohio
Post on 13-Apr-2017
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WHY YOU MAY WANT TO KEEP YOUR FAMILY OUT OF
PROBATE COURT A GUIDE FOR RESIDENTS OF OHIO
WHAT HAPPENS IN PROBATE COURT?
Probate court presides
over estates, guardianship, and related issues.
WHY WOULD YOUR FAMILY HAVE TO GO TO PROBATE COURT?
In certain circumstances, your family might have to go
to probate court.
A few examples of situations where your family might have to go to probate court include
the following:
SETTLING AN ESTATE
Probate courts preside over the settling of an estate.
If you pass away, your family may have to go to probate court to facilitate the transfer of assets
during the probate process.
GUARDIANSHIP PROCEEDINGS
If you become incapacitated, your family might have to go to probate court to have you declared a ward and have a guardian appointed.
WHY YOU MAY WANT YOUR FAMILY TO AVOID PROBATE COURT
You may not want your family to have to go to probate court
to settle your estate or to initiate guardianship proceedings.
You can make an incapacity and estate plan that prevents
this from happening.
Some of the reasons you may want to take steps to keep your family out of probate court include the following:
PROBATE PROCEEDINGS COST MONEY
Investopedia warns that the
cost of probate is usually around three to seven percent
of the value of the estate.
This means if your family has to go to probate court, they
will inherit less.
You can use other estate planning tools to allow them to avoid this
process and save on probate costs.
PROBATE PROCEEDINGS TAKE TIME
Probate can take months, or even years if there are problems like someone
contesting a will.
If you don’t want your family members to have to wait
for an inheritance, you may want to use estate planning tools to
keep them out of probate court.
PROBATE PROCEEDINGS ARE STRESSFUL
Whether for guardianship proceedings or to probate
an estate, it can be stressful for your family to have to go
to probate court.
You can spare your family this stress by making an
incapacity plan and estate plan that allows your family to avoid
probate court.
GETTING HELP
A Cincinnati estate planning and incapacity planning lawyer can help your family to avoid
probate court.
Contact a Cincinnati asset protection attorney
today to learn more.
Contact The Zimmer Law Firm today at 513-721-1513.
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