3 Reasons to Avoid Probate Court
May 23, 2012 By Law Office of Michael Robinson, P.C.
Even those who have no experience with estate planning issues may have heard of probate court and the probate process. Probate is simply the legal method involved in transferring property from a deceased owner to a new owner. The popular notion that probate is a bureaucratic nightmare is often overblown, though there is a kernel of truth to it.
In New York, the probate process is held before a New York Surrogate's Court judge and depending on the case, can last for very long time and take up a significant portion of a deceased persons assets. This can leave a lot less to distribute to inheritors, which is why many estate plans focus on avoiding probate whenever possible.
Reason 1: Expenses
All the money your estate has to spend on probate expenses is money that will not go to your heirs. This include fees for your executors, attorneys that advise your executors, as well as court fees and maintenance fees involved in maintaining your property before a new owner can be identified.
Reason 2: Time
Like all civil court proceedings, the probate process can take a substantial amount of time. Though there is no one timeline that applies in all cases, a probate case typically lasts several months or more.
Reason 3: Privacy
The probate process is a civil proceeding and it is open to public inspection. Any time a probate case is filed, there is trial or any documents are filed in a probate case, they are open to the public. Other forms of transfer, such as private trusts, allow you to transfer property privately.
ABOUT THE AUTHOR: Michael Robinson
Experienced estate planning attorneys Naples NY of the Law Office of Michael Robinson P.C. offers estate planning and business planning resources to residents of Naples NY.
Copyright Law Office of Michael Robinson, P.C.
More information about Law Office of Michael Robinson, P.C.
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
Reason 1: Expenses
All the money your estate has to spend on probate expenses is money that will not go to your heirs. This include fees for your executors, attorneys that advise your executors, as well as court fees and maintenance fees involved in maintaining your property before a new owner can be identified.
Reason 2: Time
Like all civil court proceedings, the probate process can take a substantial amount of time. Though there is no one timeline that applies in all cases, a probate case typically lasts several months or more.
Reason 3: Privacy
The probate process is a civil proceeding and it is open to public inspection. Any time a probate case is filed, there is trial or any documents are filed in a probate case, they are open to the public. Other forms of transfer, such as private trusts, allow you to transfer property privately.
ABOUT THE AUTHOR: Michael Robinson
Experienced estate planning attorneys Naples NY of the Law Office of Michael Robinson P.C. offers estate planning and business planning resources to residents of Naples NY.
Copyright Law Office of Michael Robinson, P.C.
More information about Law Office of Michael Robinson, P.C.
View all articles published by Law Office of Michael Robinson, P.C.
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
