The idea of going through probate may be intimidating to some. But it doesn’t have to be. By utilizing the following tips, those going through probate or wanting to create or update their estate plan can feel more comfortable about the process.
What to Know if You are Creating or Updating an Estate Plan
One way to simplify the probate process is to create a trust. A trust can help avoid probate altogether. If a settlor creates a trust and funds it with their assets before passing, their loved ones will likely not have to go through probate after the settlor’s death. A settlor can name a trustee to manage the trust for their beneficiaries which gives loved ones one less thing to worry about.
If an individual or couple does not wish to create a trust, then creating or updating a will is in their and their beneficiary’s best interest. In a will, the creator can designate:
- Who will inherit assets;
- Powers of attorney;
- Guardians for any minor children or those who have special needs; and,
- An executor to fulfill the terms laid out in the will.
Having some form of an estate plan in place prior to someone passing is always in the best interest of heirs. Not only can it make the probate process more straightforward, but it potentially avoids it altogether.
What Beneficiaries Need to Know
The probate process may seem overwhelming due to the documents and information needed. Beneficiaries can make the process easier by speaking with anyone who has them listed as an heir. Knowing where essential documents are and how they will be distributed according to a will or trust can help a beneficiary prepare for the future.
Additionally, beneficiaries can simplify the probate process by hiring a probate attorney. A knowledgeable New York probate attorney can help beneficiaries keep track of deadlines, paperwork, and other requirements. They can also represent beneficiaries in court if necessary.
If you are about to embark on the probate process, the team at Law Offices of Steven M. Adler, PLLC is here for you. We will support you and your loved ones if probate is necessary and guide you through any important appointments or provisions.