Living trusts are likely one of the best ways of avoiding subjecting your family to the headache and hassle people face because of the probate court proceedings. However, there are many things people are unaware of probate and the process regarding it. What is good for you and your family depends on the unique circumstances you have. It is essential for you to know what you can do instead of a living trust.
The probate lawyers are entirely aware of the headaches and hassles a family faces when the estate of their loved one goes into probate. It is a tiring process and eats up a lot of your time as well as resources. That is why probateaustralia.com.au is here to help you out in such a situation. The expert lawyers from Probate Australia will guide you through the process.
The lawyers from Probate Australia are friendly, fast and charge reasonable fees for these cases. To navigate the process of probate smoothly and as quickly as possible, you need to keep a few things in your mind.
- Appoint an experienced Estate attorney
- Quickly determine the creditors
- Prepare detailed contemporaneous records
- Keep thorough records
- Try your utmost not to miss out on the deadlines
Why do people need to avoid probate?
Surprisingly, avoiding probate is a wise decision. Many of you know it is a good idea to avoid probate court, but not many of you know the exact reasons why they should avoid it. Precisely, there are two reasons why people need to avoid probate.
- It confines a property for months. In some cases, the property takes more than a year.
- It is quite expensive. In some states, the court fees and the attorney take up to a significant percentage of the estate’s value.
How to avoid probate?
It is not so difficult for you to avoid probate. There are a few effective and simple ways to make sure a part or all your property directly passes to your heirs without them going through probate court. The effective ways of avoiding probate includes –
- Revocable living trust
- Registration and pay-on-accounts
- Joint ownership of the property
How to obtain a grant of probate?
People believe it is hard to obtain a grant of probate. However, it is not that difficult. Mostly, there is no dispute whether the document is the last will drawn by the decreased. At the same time, you can get a grant of probate in a common form without involving a court case.
Now to obtain a grant of probate involves either using a solicitor or personally. You can register for the same and upload the relevant documents and information into court online. Currently, there is no requirement for a separate oath by an executor.
However, the original will of the testator needs to upload, and the court will generate a draft grant of probate and a statement of assets and liabilities automatically. The court will grant probate in a courtly form in case there is a dispute involving the Supreme Court.