Texas Probate Law Firm
Not many people want to take the time to learn about wills or probate from a Texas probate law firm attorney. After all, it isn’t usually a topic that you want to think about. There comes a time where it’s crucial to consider a will and to at least understand the basics of estate planning. Having a solid estate plan is the only way to provide for your family if something were to happen to you. To help shine a light on wills and probate, here are some common misconceptions debunked.
Probate Depletes Your Assets
A lot of people have nightmares about probate. They worry that they need to avoid probate at all costs. This isn’t normally the case. For some estates, you won’t even need probate. If you don’t have a lot of assets, then you may even be able to work around probate entirely.
Even in the case where an estate needs formal probate, it usually costs about five percent of the total value of the estate. Now, there are exceptions to this, of course. If one of your family members decides to contest the will, then those expenses can start to rise. When disputes go to trial, the estate may need a probate law firm in Arlington, TX. It is better to have a will that is difficult to dispute.
Probate Takes Years
As an attorney from a Texas probate law firm can explain, in some cases it is possible for probate to take years. This is not typical, however. In fact, most of the time, probate lasts less than a year. The reason that there is usually a delay is that creditors are given time to submit claims. Again, the cases where probate lasts longer is usually because there is someone who is disputing the will. Additionally, if there is a complicated estate, it may take longer. The most complicated estate plans involve those who earn income even after their death.
Some people are afraid that having a will is only going to force their loved ones through a long and expensive process through probate. The truth is that most of your assets will still go to your loved ones if you have a solid will. The most important consideration is how you draft your will. When it comes to writing your will, it is important that you speak with a probate lawyer Arlington, TX clients recommend. You want to make sure that your will cannot be disputed and that it fits the needs of your family, including probate costs. To make sure that your estate plan is in good shape, consult with Brandy Austin Law Firm, PLLC., a seasoned Texas probate law firm.