When someone close to you dies, it is enough to be overwhelmed with grief. When you have to deal with probate and go to court to divvy out your loved one’s assets, that just adds to the pain. The death of a close family member should bring estranged family members together to share memories and bond. If there are assets in question and raw emotions in the people fighting for those assets, it can lead to even bigger chasms between family members.
Emotional Assets and Probate
Depending on the state of financial affairs of the deceased, it could be possible that memorable assets are up for discussion in a cold, unfeeling courtroom. If there are not beneficiaries in place for your mother’s wedding jewelry or your dad’s vintage car, then those assets could be used to pay off the debt of the parent who passed away. Losing an emotional belonging of the person that passed away can be like grieving another death.
How to Avoid Probate
The best way to avoid probate is to have a plan in place for your property, assets, and money after you die. You can place it all in a trust and name a trustee to be in charge of honoring your wishes after your death. You can specifically write it out in a will, naming beneficiaries for each special item that you own. Be sure to update your will and trust along the way, changing it as circumstances change like divorce, remarriage, births, or deaths of beneficiaries.
We want you to understand how important it is to have your affairs in order before death. It may be challenging to plan for such a thing, but our team at Miles & Hatcher, LLP, will answer all questions and make the process easy and comforting. When you have a plan in place for after death, you will save your loved ones stress and hardships. Call today to create your will or trust and get a headstart on estate planning: (909) 481-4080. You will receive a free consultation to answer any initial questions.