In estate planning circles, the word “probate” often comes with a negative connotation. For many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. That being said, the probate system was actually established to protect the property of the deceased and their heirs, and in a few cases, it may even work to their advantage. Let’s look briefly at the pros and cons of going through Florida probate.
For some estates, especially those in which no will was left, the system works to make sure all assets are distributed according to state law. Here are some potential advantages of probating an estate:
While probate is intended to work fairly to facilitate the transfer of property after someone dies, consider bypassing the process for these reasons:
Here is the 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.
Our skilled estate planning attorneys can develop a strategy to help you avoid probate and make life easier for the next generation. To learn more about probate or estate planning, please call us at (954) 999-9683 and schedule your consultation.
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