If you’re new or a veteran to the real estate industry, then you may have heard that probate is something that you should avoid as much as possible. There are plenty of people in Florida who spend a lot of time and money writing their estate plan to avoid probate. This is usually because probate is an incredibly frustrating process to go through for your heirs. But is probate as bad as they make it out to be? The following explores a few reasons why it might not be as mad as they make it out to be.
The process doesn’t need to take long
In Florida, the probate process can take a while to settle. In fact, some cases do take years to come to an end. However, a large majority of cases are routine settlements and don’t take that much time to resolve. In this state, many of the heirs receive their payouts within six to eight months.
Probate helps to cover late in life accumulation
People will usually craft a living trust while they are still able to handle their affairs. This is done to avoid their heirs from going through probate. However, there are instances where items are left out of the trust or accumulate assets late in life. In this case, probate would be a necessary process to go through.
As you may be able to tell from the above information, the probate process can be a complex one. This is why it may be critical to have an attorney at your side throughout the probate time period.