Top Alcoa, TN Probate Lawyers Near You

What Is Probate?

Probate is the process through which assets from a deceased person’s estate are transferred to beneficiaries, such as spouses, children, and other loved ones. In plain terms, reading a person’s will and distributing the items contained in it is part of the probate process. In some states, probate courts also handle matters related to guardianships and conservatorships of children or disabled adults.

What Happens if You Don’t Do Probate?

Without an estate plan in place, the probate process will often still go forward, but it can get messier. Someone who dies without a will in place will often have their assets given to any survivors, even if that would have gone against their wishes. Court battles can unfold among relatives who feel like they deserve more.

How Long Does Probate Take?

In a simple case where there are no disputes, and the deceased had a strong plan in place, the probate process of distributing assets and paying off debts may only take a few months to complete. If someone challenges the will or any other part of the estate distribution, it can take much longer.

How Can You Avoid Probate?

If you want your beneficiaries to avoid the hassle of probate, you have several options. You can make sure to name beneficiaries of bank accounts, retirement accounts, and life insurance policies. You could also move your assets to a living trust, which will allow you to access them while you are still alive but will automatically pass to your beneficiaries upon your death.