Orsbon & Fenninger
  • About
    • Perry A. Coumas
    • Cynthia T. Fenninger
    • R. Anthony Orsbon
    • Our Team
  • Practice Areas
    • Business Law
    • Estate and Trust Planning
    • Estate and Trust Administration
    • Tax Planning
  • Journal
  • Videos
  • Contact
Select Page

How the probate process can affect an estate plan

On behalf of Orsbon & Fenninger, LLP | Sep 6, 2018 | trust & probate administration

When people in Charlotte think about estate planning, they may consider where they want their belongings to go after they die. However, in many cases, they may not fully consider how their choices affect their loved ones, particularly when it comes to dealing with probate and estate administration.

While dying without a will may lead to confusion among the family and the imposition of state intestacy laws in probate court, even a well-written will goes through the probate process. When people think about probate, they may be especially concerned about the costs involved, such as attorney, accounting and representative fees. However, non-probate transfers involve professional assistance and related fees as well. While the potential of excessive costs and fees can be a strong spur to make an estate plan, it may not make the difference between will transfers or living trusts.

Many people seek to avoid probate because of the delays involved. The choice of whether to opt for a probated will or the transfer of most assets outside the probate process could be affected by a person’s unique situation. An estate could take 6 to 12 months or more to go through probate, which might prevent people from receiving much-needed funds from the estate in a timely manner. However, people who are concerned about creditor claims on the estate may want to have at least a portion go through probate. The probate process will allow creditor claims to be handled without the risk of attempting to recall funds from a beneficiary.

There are a number of unique situations that can affect people’s choices when planning for the future. An estate planning attorney may provide clients with detailed recommendations for their own plans as well as developing documents to make them a reality, including wills, trusts and powers of attorney.

  • Facebook
  • Twitter
  • LinkedIn

Subscribe To This Blog’s Feed

Categories

  • blog (11)
  • Estate Planning (8)
  • estate tax (22)
  • Firm News (105)
  • None (1)
  • trust & probate administration (28)
  • trusts (104)
  • Uncategorized (3)

Archives

  • October 2019 (2)
  • September 2019 (2)
  • August 2019 (3)
  • July 2019 (1)
  • June 2019 (5)
  • May 2019 (6)
  • April 2019 (5)
  • March 2019 (5)
  • February 2019 (5)
  • January 2019 (6)
  • December 2018 (5)
  • November 2018 (6)
  • October 2018 (5)
  • September 2018 (5)
  • August 2018 (6)
  • July 2018 (5)
  • June 2018 (5)
  • May 2018 (6)
  • April 2018 (5)
  • March 2018 (6)
  • February 2018 (4)
  • January 2018 (6)
  • December 2017 (8)
  • November 2017 (5)
  • October 2017 (5)
  • September 2017 (4)
  • August 2017 (6)
  • July 2017 (5)
  • June 2017 (6)
  • May 2017 (6)
  • April 2017 (5)
  • March 2017 (6)
  • February 2017 (6)
  • January 2017 (5)
  • December 2016 (5)
  • November 2016 (5)
  • October 2016 (5)
  • September 2016 (4)

Recent Posts

  • How can you include charitable giving into your estate plan?
  • Can you include special needs children into your estate plan?
  • Preserving your wealth for future generations
  • What to include in a comprehensive estate plan
  • How can I give to charity after my death?
findlaw-network

Talk With Us:
Schedule A Consultation

Email Us For a Response
Brand
Review Us

OFFICE LOCATION

Orsbon & Fenninger, LLP

4201 Congress St.

Suite 110

Charlotte, NC 28209
CHARLOTTE LAW OFFICE MAP

OFFICE HOURS:

Monday : 8:30am–5pm
Tuesday : 8:30am–5pm
Wednesday : 8:30am–5pm
Thursday : 8:30am–5pm
Friday : 8:30am–5pm

TOLL FREE:
888-314-8134

Phone
704-900-3883

Fax
704-556-9601

facebook
twitter
Google Maps
Linked In

OFFICE LOCATION

Orsbon & Fenninger, LLP

4201 Congress St.

Suite 110

Charlotte, NC 28209
CHARLOTTE LAW OFFICE MAP

OFFICE HOURS:

Monday : 8:30am–5pm
Tuesday : 8:30am–5pm
Wednesday : 8:30am–5pm
Thursday : 8:30am–5pm
Friday : 8:30am–5pm

© 2019 Orsbon & Fenninger, LLP. All Rights Reserved.

Disclaimer | Site Map | Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters