Can Probate Be Avoided?

CAN PROBATE BE AVOIDED?

Myth

You may have seen a fictional depiction

Someone dies, and after the funeral there is a “reading of the will”

The assumption is that the person who reads the will distributes the

property directly to the heirs to the estate

Reality

Reality

If you use a will to transfer your assets, you choose an EXECUTOR

This is the person who administers the estate

When you pass away, the executor is bound by the laws

of the state of Indiana

He or she must admit the will to probate before any inheritances

are distributed

ProbateProbate

What Is Probate?

It is a legal process

The probate court determines the VALIDITY OF THE LAST WILL

Final debts must be paid during probate

Challenges to the estate could be presented during probate

How Long Does It Take?

The exact duration of the probate proceeding will vary on a case-by-

case basis

Simple cases will take months

The more complicated the situation

is, the longer it will take

In some instances probate can go on for years

Does Probate Cost Anything?

There are expenses that can pile up during the probate process

The court imposes a fee

1

The court imposes a fee

1

The executor must be paid, and various professionals will usually

be brought in

2

These probate expenses will reduce the amount of the

inheritances that are

received by the heirs

Can Probate Be Avoided?

When you hear about probate you may wonder if it can be

avoided

THE ANSWER IS YES, there are a number of different probate

avoidance strategies that can be implemented

One very commonly utilized solution

would be the CREATION OF A REVOCABLE LIVING TRUST

Indianapolis Probate Avoidance Consultation

If you would like to discuss probate avoidance strategies with a licensed

attorney, we invite you to contact our firm

We would be glad to provide you with

a FREE CONSULTATION.

Frank & Kraft (317) 684-1100

www.FrankKraft.com