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