This month’s ABA Journal Magazine had a really great article about the pros and cons of probate administration. Probate is the court procedure that allows for the oversight of a deceased’s will and estate. They make sure that assets and legacies go where the deceased wished it to go.
In recent years and even in my own practice, setting up ways to avoid probate has been some of my client’s main goals. This is because probate can be an expensive and time consuming process for the potential heirs. Attorney’s fees along with possible challenges to the deceased will can lead to delays and strife among family members. As such, when possible, probate should be avoided.
Probate is a good vehicle, as the article states, for oversight when you’re in a particular situation that would benefit from oversight. The article gives some examples and is well worth a read to practitioners of trust and estates.
