Avoid Probate with a Good Estate Plan

Let's Talk about Avoiding Probate with a Good Estate Plan
By Alan Orlowsky

It is important to go about proper estate planning in order to avoid potential probate issues. Probate is a legal document. Receipt of probate is the first step in the legal process of administering the estate of a deceased person, resolving all claims and distributing the deceased person's property under a will. Probate is required to make sure that descendant estates are in accordance with inheritance laws. The simplest way to avoid probate it to consult with an experienced estate planning attorney.

Avoiding probate can save money, time and can help avoid family disputes caused by a will. The essential things that everyone should do regarding establishing a proper estate plan are:

• Creation of a Last Will and Testament
• Creation of a Living Will
• Appointing a Power of Attorney to a reliable individual
• Consult a experienced Estate Planning Attorney

Power of Attorney allows another person to act on your behalf if you are unable to make decisions regarding your health care. The person you designate with Power of Attorney can make decisions in your best interests for such things as life support, organ donation, and resuscitation orders. This person can also pay your bills, transfer titles property and other legal issues regarding your estate. Choosing the right person is key factor in avoiding probate.

Creating a Last Will & Testament and a living will allows you to designate a estate administrator. The duties of this individual depend on the state of matters including estate value, inheritance, property and family disputes. If a will is contested and estate settlement can be drastically prolonged and may substantial legal fees and can eventually bankrupt the estate, leaving nothing for the heirs to inherit. Having these in place and current is an easy way to avoid probate.

Finally, choosing an experienced attorney can assist you in the entire estate planning process. The right attorney makes all the difference and setting up your estate before its too late is the best way to avoid any additional hassles and costs. Should you have any questions regarding setting up an estate plan or re-examining your current estate feel free to contact Orlowsky & Wilson.

If you have questions about this post or about a particular legal situation, please contact Alan Orlowsky by calling 847-325-5559.