The answer is unfortunate because their assets, money and estate will have to go through a judicial process called Probate. What makes Probate truly awful is that its expensive, time consuming and played out in public for all of your friends, neighbors and anyone else to see, including career criminals who prey on families going through it.
The probate process can also be emotionally draining, and painful for the loved ones of the deceased because it can take over a year to resolve. One way to avoid having your family and loved ones go through the misery of Probate is by having an Estate Plan in place that includes a Living Trust.
Your Money and Assets are Frozen While in Probate
Of course we can all agree that it’s better to die with a will rather than nothing at all so it can help the executor navigate the paper pushing bureaucracy of Probate. However, what you need to know is that during the time that an estate is held in Probate, bank accounts and assets are untouchable and unavailable to the deceased individual’s family and beneficiaries. In fact, the beneficiaries of the estate can be left feeling anxious and stressed out while the estate pays the debts, taxes, and everything else associated with traditional government bureaucracy. Unfortunately, no money or property will be available to the beneficiaries until the court decides that all matters are settled in Probate, which in some cases, can take over a year. How can you pay all of your bills if the family money is tied up in Probate court for over a year? You can’t which is why you should call us today.
If you and your loved ones want to avoid the pitfalls of Probate, call Senior Citizen Lawyer today for your Free and Confidential Probate Avoidance Consultation (916) 674-2066.
What They’re Saying
My mother in law was very pleased with the thoroughness of her Trust that Mr. MacFarlane and his associate helped her create. Tony Franceschi, Mr. MacFarlane’s associate, patiently answered questions and made sure she completely understood the documents. She enjoyed working with both of them and has recommended their office to her friends. When it is time to create my Trust, I will only go to MacFarlane Legal.Carol
Dustin generated a living will and trust for us to ensure that our three children would always have a safety net. The document is extremely thorough. The Durable Power of Attorney for Healthcare even came in handy recently when my husband was hospitalized!Trina K.
MacFarlane Legal created two different types of Trusts for us to address two different areas of need. Both Tony and Dustin are extremely well versed in Elder and Trust law and were able to tailor the Trusts to suit our purposes. They were able to make assessments of our situation and provide us with different legal options so we could best determine what language and provisions to include in our Trusts. Tony and Dustin were also very patient with all of our questions and explained all the legal language in a way we could understand. They were very friendly and easy to work with. The fees were reasonable and fair. We are very happy with our Trusts and would use McFarland again in a heartbeat if/when the need for more legal work arisesCarl J.