5 Facts About Probate

Going through probate is the only legal way to transfer assets to a person’s beneficiaries. If you attempt to transfer the assets listed in the will to the beneficiaries without going through probate you are not following the legal process that is required of you to do so in most situations. The primary reason for this is that there may be creditors who have rights to property that you are neglecting to include in the process. This can leave the estate wide open to future legal actions in costs associated with your having not probated the will. Megone Trewick goes over some facts you may not know about probate!

The video discusses five important facts about probate. The first fact is that probate is a court process that involves changing the title of assets owned by a deceased loved one to a new person. Second, not all property needs to be probated, such as property with a designated beneficiary. Third, probate can take a long time and can be expensive. Fourth, being in probate while alive can be embarrassing and an infringement on privacy. Finally, with proper planning, probate can be avoided altogether. The video emphasizes the importance of estate planning to avoid the need for probate.