Probate is Spooky!
In addition to breast cancer awareness month and Halloween, October is also National Estate Planning Month! A big part of estate planning is avoiding probate. Have you ever heard of it? Let me tell you:
Probate is SPOOKY!
Picture this: cobwebs hanging from the courtroom ceiling, creaky old chairs, and a ghostly judge wagging a bony finger at you. Okay, maybe probate isn’t exactly like that, but you get the idea.
Probate is the legal process that takes place after someone passes away. It involves validating their will if they have one, identifying their assets, paying off debts, and distributing what’s left to their heirs. Sounds straightforward, right? Well, not quite.
Probate can be a lengthy and costly process. It can tie up your assets for months, or even years, and eat away at your hard-earned money. Plus, it’s a public process, which means anyone can access the details of your estate. Talk about invading your privacy!
If you find yourself in need of help with probate, our team can help you. But more importantly, we can help you avoid probate. By taking proactive steps, including creating a revocable trust, you can spare your loved ones from the spooky world of probate court.
So, let’s keep things light and avoid the haunted halls of probate!
Just for good measure, here are some other frightening estate planning mistakes to avoid as you consider your estate plan:
- Making no Last Will and Testament or Revocable Trust
- Failing to fund revocable trusts
- Failing to specify legal guardians for your children
- Failing to include a financial power of attorney and other planning to allow someone to manage your finances in case you are incapacitated
- Never updating your estate plan after its created – even when major changes have happened in your life
- Not executing a healthcare power of attorney and documents to allow your family to access private healthcare information
- Not discussing your end-of-life wishes with loved ones
If you are ready to update or put in place your estate plan, feel free to reach out to our team. We are here to help!
And should you find yourself facing the scary prospect of probate because a loved one has passed with a poorly planned estate, our team can help guide you through the process to make it a little less spooky for you.
Wishing you a probate-free future from Libby Banks and the entire Law Office of Libby Banks team
If you’d like to learn more about probate and estate planning, check out our YouTube channel.