Articles Tagged with Probate Avoidance

The estate planning process can be complicated for those just beginning since there is a lot to learn. Because of this, most people do not know how probate can impact estate planning overall. Probate is the court administration of an individual’s estate—which occurs after they have passed away. Depending on the amount of planning an individual has done before they die, the probate process may either be smooth or difficult. Below are some common questions and explanations about the probate process and how Texas estate planning attorneys advise their clients on these issues.

What is Probate?

After a person’s death, the court reviews the deceased’s debts in probate—if they had any—and then distributes their remaining assets to loved ones. Most people are surprised that regardless of if the person had a will or not, they will go through the probate process. If the person had a will in place, called a testate, then the process is much easier and is less likely to be questioned. However, if the person did not have a will, called intestate, the process is often much more complicated. This is another reason why it is critical to have an estate plan in place.

Professor at chalk boardIn many cases, knowledge is power. But in estate planning, knowledge by itself can be a dangerous thing. You need to pair knowledge of the most common estate planning mistakes with another kind of knowledge: what to DO about those mistakes. And we would even add a third thing: knowing WHO to ask for help!

For example, you might know that it is desirable to avoid probate, but that is of little use unless you also know how to create an estate plan that will keep an estate out of probate. For the same reason it is important to not only know what common estate planning mistakes are but also to know how to avoid them.

A recent article by The Street entitled "How to Avoid the Most Common Estate Planning Mistake" discusses the most common mistakes and how to avoid them. Tips from the article include:

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