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Litherland 12 17 12 How Long Can Probate Last - Ask Gibb Heirs

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Litherland 12 17 12 How Long Can Probate Last - Ask Gibb Heirs Powered By Docstoc
					How Long Can Probate Last? Ask Gibb Heirs

One of the pitfalls that goes along with the process of probate is the fact that it can take quite a bit of
time to run its course.

Many people are not aware of the fact that your estate must pass through this legal process before your
heirs receive their inheritances if you use a last will to express your final wishes regarding asset
transfers.

This is one of the reasons why a lot of people choose revocable living trusts. These instruments are
sometimes mistakenly viewed as only being relevant to the wealthy. This is really not the case because
they are very effective as probate avoidance tools even if you are of ordinary means.

To see how probate can delay things, simply take a look at the estate of the recently deceased pop
singer Robin Gibb. He died in London in May in possession of some €93 million in assets.

According to an article published in the Daily Mail, the heirs to the Robin Gibb estate may be waiting
for a number of years before they will be able to receive their inheritances. Given the nature of his
holdings, it will take a considerable amount of time before these resources can be readied for
distribution, perhaps five years or so according to reports.

The potential for time lags is something to discuss with your estate planning attorney when you are
devising an estate plan. There are ways that you can arrange for distributions of assets outside of
probate, and you may want to discuss your options with your lawyer.

Experienced estate planning attorneys Campbell CA of the Law Office of Roy W. Litherland offers
estate planning and business planning resources to residents of Campbell CA. To learn more about
these free resources, please visit www.attorneyoffice.com/ today.

				
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posted:12/27/2012
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