Probate Cost and Lack of Privacy
Why is it good to avoid probate, it cost money, and it takes a lot of time if you don't want your family to have to spend a huge portion of your estate on probate fees, attorney fees, publication fees, mailing fees, appraiser fees, realtor fees, then avoid probate altogether.
The other thing is it takes a long time. A regular probate is going to last you probably four to six months, depending on your jurisdiction. We have had a probate regularly go for over a year.
Lengthy Court Battles
There are extremes as well.
We had one probate that was over 30 years old, that probate started before I was even in law school. I don't even think I'd graduated from college yet, but that's an outlier.
That's an extreme case of a probate that just took way too long because family members did not get along.
The bottom line is, if you don't want your family to waste a lot of time and money that should be going into their pockets instead of to other people, then avoid probate altogether by getting a revocable living trust centered estate plan.
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Cortes Law Firm
5801 Broadway Extension Hwy Suite 110
Oklahoma City, OK, 73118