VIEWS: 51 PAGES: 1 CATEGORY: Legal POSTED ON: 12/25/2012
Estate planning attorneys often assist clients who decide that they would like to employ probate avoidance strategies.
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 strategies. 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 estate. 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 reports. 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.
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