Main Menu The Bowden Spratt Law Firm - Atlanta Estate Planning Lawyers
BSLF Estate Planning Attorneys | Toll Free: 877-920-1051 Local: 404-890-0926

Consider avoiding probate for the sake of surviving loved ones

Estate planning may not be high on the list of things that most people want to do, but it is necessary. Not only will it keep the state of Georgia from deciding what happens to an individual's assets upon death, but it could also be structured in such a way that probate may not be necessary. Many people do not understand that during the process, surviving family members will not have access to any assets that are subject to the probate process.

For instance, if a Georgia resident set aside certain monies in a will for a family member, that person will be required to wait to receive those funds until the estate is settled. That could be months or even years depending on the circumstances. In addition, those monies could end up being used up during the probate. Whatever inheritance the individual intended may not be there when all is said and done.

Another reason to avoid probate is that many of the actions that need to be taken require the approval of the court first. For example, if the executor wishes to sell an asset, the court will need to approve the sale first. Depending on the circumstances, it could be expensive and time consuming. Again, this could diminish the assets available for distribution at the end.

It may be possible through estate planning to make sure that at least some assets are immediately available upon death. It may not be necessary to attempt to avoid probate completely as long as there are sufficient funds and assets that do not have to pass through probate. Determining the best way to proceed may require discussing the circumstances with an attorney.

Source: thebalance.com, "Top 4 Reasons to Avoid Probate", Julie Garber, Accessed on Nov. 5, 2017

No Comments

Leave a comment
Comment Information

Office Location

The Bowden Spratt Law Firm, P.C.
191 Peachtree Street NE, Suite 4400
Atlanta, GA 30303
Toll Free: 877-920-1051
Local: 404-523-8337
Fax: 404-523-8323
Map & Directions

Map