Avoiding probate typically involves using a different plan that has been constructed to allow one to accomplish the same goals. These goals include paying final debts and expenses and transfer property per the decedent’s wishes–without having to go to court and open up a probate estate.
Probate court has the potential to strain the most concrete of relationships. Hiring an experienced attorney who could explain how to avoid probate in Lombard and may help circumnavigate this trying courtroom experience. Call a seasoned probate attorney to learn more about your legal options.
The advantages of avoiding probate are that it may cut down on attorney’s fees, time, and delays caused by being involved in the court system. By avoiding probate, an individual does not have to file anything in court. They are granted discretion under the trust just to do things themselves.
If all of a person’s property was in joint accounts and they are avoiding probate that way, all they have to do is go to the bank and collect the joint accounts. There is no other lawyer who needs to be in court filing pleadings or petitions.
The consequences of choosing not to participate in the probate process revolve around not having a centralized venue in case there are any problems. If someone is not already in court for a probate case and there are legal issues with respect to the estate that requires some sort of court proceeding, then they would have to file a new lawsuit.
If there is not a probate process, then there is no court oversight. If a beneficiary encounters a problem with the probate process, then there is a forum for them to bring their grievances. Conversely, without the probate courts, complaints must be filed separately.
The main disadvantage of avoiding probate is the claims period. In Illinois, there is a six-month claims period where, once someone publishes for claims, claimants or creditors of the estate or of the decedent have six months to file their claims. If they do not file their claims within those six months, then their claim is barred. The alternative is that if they do not go through probate, there is basically a two-year statute of limitations from the date of death.
Probate avoidance planning is estate planning utilizing beneficiary designations or joint account designations to avoid probate. Many people concern themselves about the costs of probate because there are at least two court appearances and fees involved. Therefore, probate avoidance planning is undoubtedly an option people may look at when they plan their estates if they want to avoid probate.
Probate lawyers can aid in probate avoidance planning by identifying assets. A probate lawyer could assist by going through each asset and analyzing any given estate plan to determine whether or not this plan if it took effect today, would help avoid probate.
Probate court is a complex system and may test relationships when people wish to contest wills. A dedicated lawyer could explain to you how to avoid probate court in Lombard. When you are ready, reach out and schedule a consultation with a compassionate and skilled legal professional.