Probate can be a complex and time-consuming process, and it’s easy to make mistakes that can delay the distribution of your loved one’s assets or even result in legal challenges. Here are the top five mistakes to avoid during probate:
- Not hiring an experienced probate attorney. The probate process involves a lot of paperwork and legal procedures, and an experienced attorney can help ensure everything is handled correctly.
- Failing to properly identify and locate all assets. It’s important to identify all of the deceased’s assets, including bank accounts, real estate, and investments, and to locate any beneficiary designations or transfer-on-death forms.
- Not properly valuing assets. All assets must be properly valued for probate, and this can be a complicated process. Make sure to work with an experienced appraiser to ensure all assets are properly valued.
- Not following the terms of the will. It’s important to follow the instructions laid out in the will, as deviating from them can lead to legal challenges.
- Not properly communicating with beneficiaries. Keep beneficiaries informed of the progress of the probate process and any decisions that are being made. Lack of communication can lead to frustration and even legal action.
By avoiding these common mistakes, you can help ensure the probate process goes as smoothly as possible and avoid delays or complications. Hiring an experienced probate attorney and keeping good communication with beneficiaries can go a long way in helping you navigate the process successfully.