The Carmel probate process takes place after most deaths. However, there are circumstance where probate could be avoided if the deceased made plans in advance so probate would not be necessary. There are many reasons why you might wish to make these plans so your heirs or beneficiaries can avoid probate. And, if you stand to inherit, there are also many reasons why you would likely prefer to avoid probate if you do not have to go through this process.
Frank & Kraft can provide you with insight into your options for avoiding the probate process. We can also help you if you must go through probate. We represent the executor of an estate, heirs or beneficiaries, anyone seeking to contest a will, and other interested parties during probate proceedings. We will work hard to ensure that this process — which can be stressful — is as easy as possible if you must go through it.
Why Would You Want to Avoid the Carmel Probate Process?
There are many key reasons why those who stand to inherit would likely prefer to avoid the probate process — and why you might wish to make an estate plan to help them do so if you are thinking about how to take care of your heirs. Some of the key reasons why you might want to avoid probate include the following:
- Avoiding probate keeps the transfer of assets more private: If your assets transfer through the probate process, this means that there will be court proceedings. There will be court records as a result, and this likely means that there will be public records. This means that details about the transfer of your wealth could become public knowledge, which you and your heirs or beneficiaries may not want to occur.
- Avoiding probate allows assets to transfer in a more timely manner. According to Investopedia you can expect the probate process to take a year or so to complete. This can be a very long time for your heirs or beneficiaries, who may be depending upon their inheritance if you are no longer providing them with financial support or who may simply want to move on with their lives and not face a lengthy court process.
- Avoiding probate allows you to save costs. Investopedia also reported that it typically costs around three percent to seven percent of the estate for the estate to go through the probate process. This is a lot of money and you may not want your valuable hard-earned money and property to be spent on court costs and probate fees when it could transfer to your heirs or beneficiaries if you were able to avoid probate.
- Avoiding probate increases the chances your wishes will be respected. There is always a chance that someone could contest your will. There is a much reduced chance of someone successfully contesting a trust or undoing other steps you’ve taken to transfer wealth outside of the probate process.
There may also be other reasons to try to avoid having your assets or your inheritance pass through probate, depending upon the specifics of your circumstances. Talking with a Carmel probate lawyer can be the best way to determine if there are advantages that you should consider that could make it necessary for you to make a probate avoidance plan.
Getting Help from a Carmel Probate Lawyer
A Carmel probate lawyer at Frank & Kraft can provide you with personalized advice on whether you should make an estate plan to try to avoid probate so your loved ones will not need to go through the process. We can also represent heirs or beneficiaries, those who are contesting a will, as well as executors of estates during probate proceedings.
Our goal is to ensure that probate goes smoothly for you, if the process is necessary — or to help you use legal tools so your loved ones don’t have to incur the expense and face the stress of court proceedings after death. To find out more about the ways in which our firm can help you with probate issues, join us for a free seminar. You can also give us a call at 317-684-1100 or contact us online at any time to learn more.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.