Daily Mail: Probate May Take Five Years in Gibb Case
Estate planning attorneys often assist clients who decide that they would like to employ probate avoidance
Probate is the legal process that stands between your family and their inheritances. The court must examine the
last will to make sure that it is indeed valid, and subsequently this court will supervise the administration of the
Hands-on tasks are handled by the executor that you name when you execute the last will document. If you do
not name an executor the court will appoint a personal representative.
Making sure that final debts are paid while preparing assets for distribution to the heirs to the estate can take a
lot of time in some cases. This is one of the primary reasons why so many people choose to arrange for transfers
of assets outside of probate.
As a case in point with regard to how long it can take, look no further than the estate of the recently deceased
Bee Gees singer Robin Gibb. He died with assets totaling somewhere in the vicinity of €93 million according to
The Daily Mail has suggested that probate may last for some five years in this case as the singer's holdings are
readied for distribution.
This is an especially long period of time to be sure. However, even in routine cases it can take months for
probate to run its course.
The intelligent course of action is to discuss your unique situation with an estate planning attorney. Once you
gain an understanding of all the facts you may indeed decide to take steps to arrange for future asset transfers
outside of probate.
Experienced estate planning attorneys Indianapolis IN of the Frank & Kraft Attorneys at Law offers estate
planning and business planning resources to residents of Indianapolis IN. To learn more about these free
resources, please visit http://www.frankkraft.com today.