How to Avoid Problematic Probate

When you have investments, bank accounts or property solely in your name, it goes to whoever you designate it to in your will. But what happens if you don't include a particular asset in your will. Even worse, what happens if you don't have a will at all?

Fellow legal professional Bonnie Kraham explains in her article at RecordOnline.com that this legal process is called probate. It is a lengthy process and actually has an unforeseen side-effect, it makes all items under probate public knowledge. This means that everything under probate, along with those who finally receive the assets, prices, and more, can be easily accessible. 

As you could imagine, this may raise problems in the future whether it be confidentiality issues to valuations. Regardless, this is one more reason why you should contact a legal professional and develop an estate plan. 

For more information, check out Bonnie Kraham's article here: https://ow.ly/HJjd305Yxk5

What are your thoughts on probate? Comment below!