After a loved one dies, their money and property that goes through probate must be distributed to the people legally entitled to it, either according to a last will and testament (also called a will) or the state’s default distribution scheme (found in its intestacy statute). While most people want the settlement process done as soon as possible, probate can take up to 12 months in some states. The time delays create unnecessary stress, especially for families who need access to those accounts or property to pay their deceased loved one’s taxes, expenses, or legally valid debts.
5 Reasons Probate Takes So Long
Here are five of the most common reasons the probate process may take so long:
- Paperwork. Probate involves extensive paperwork, including inventories, financial records, court filings, and responses to creditors and beneficiaries. Managing all these documents can be a monumental undertaking.
- Complexity. Estates with numerous or complicated accounts or property take longer to handle during the probate process. For example, real estate in multiple states, closely held business interests, or unique collectibles often require appraisals, specialized paperwork, and coordination with various professionals.
- Probate court caseload. Many probate courts have large caseloads and limited staff. Because the court must be involved at various stages of the probate process, there may be delays in getting authorization to move the process forward.
- Challenges to the will. Family members, heirs, beneficiaries, and those who thought they would be beneficiaries can object to and challenge the will’s instructions and legal validity. While state law dictates the length of time a person has to object, will challenges can often add years and significant costs to the probate process. Some of the most common challenges include assertions that the willmaker, at the time the will was signed, was
- lacking testamentary capacity (lacking the mental ability required by state law to make a will);
- subject to undue influence (someone wrongfully pressured them to do something they would not have otherwise done); or
- a victim of fraud (they thought they were signing a different document, not a will).
- Creditor notification. The deceased person’s creditors must be notified of the deceased person’s passing and the opening of their probate estate to give the creditors an opportunity to submit any legal claims for debts. Once this period expires, any future claims would be barred in most states. The period for creditors to file claims varies by state, but typically ranges from three to nine months.
While most state laws are designed to keep the probate process moving along in a timely manner, that is not always the reality.
Simply Put, Avoiding Probate with a Trust Is Better
Simply put, creating a trust to hold accounts and property can avoid the long, complicated probate process. When a person creates a trust and funds it by transferring all of their accounts and property into it, those accounts and property are treated as being owned by the trust rather than the deceased person, which means they do not need to go through the probate process. Their distribution is controlled instead by the instructions in the trust agreement. Administering a trust instead of going through the probate process is usually quicker—meaning beneficiaries receive their inheritance much sooner (depending on the trust’s instructions). In addition, costs can be reduced and stress levels minimized, and the trust can be administered away from the prying eyes of the probate court and the public.
Take Action Now
If you need help administering your deceased loved one’s probate estate, we can help you move the process along. We can also help you ensure that you never burden your loved ones the way you have been burdened: We will show you how to avoid probate with a trust. Give us a call today.
