If someone dies leaving assets titled in their own name, often the only way for those assets to be taken out of the name of the person who died and put into the names of the living is through a Court order, which is the result of the probate process.
What Are The Top Misconceptions People Have About Probate?
Many people believe that if they were an Agent under someone’s Durable Power of Attorney, they are able to continue to exercise their right as Agent after the person passes away. That is not the case. An Agent’s ability to take action is extinguished along with the life of the person who made the Power of Attorney. Taking action with respect to a decedent’s assets before a probate is opened is not allowed and can get someone into trouble. Another heir might argue that the Agent acted fraudulently. Asset transfers might have to be rolled back.
Another common misconception is that having a will avoids probate. There are trusts and other estate planning tools we can use to avoid probate; a will is not one of those. However, there are things we can do things when drafting a will that can make probate easier, less expensive, and less time-consuming.
Why Do People Generally Fear The Probate Process?
Probate can be time-consuming, depending on the size and complexity of the estate. Another source of frustration is disputes over a will. Most of the time, however, probate goes smoothly. The cases are resolved in a few weeks or a few months depending on the size of the estate. But the horror stories get the attention, and that is why probate has bad reputation.
For more information on Probate Proceedings in Florida, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling 727-827-7777 today.