Probate is a public court process that can take anywhere from 6 to 18 months or longer. An attorney is not required, but can be helpful. If an attorney is hired, expect to pay them $3,000 - $10,000, even if no one challenges the will. Sometimes, a will is challenged by a creditor, a spouse, or someone claiming to be a relative. These challenges cause further delays and add to the complexity and, therefore, the cost of probate.
One of the most common myths about a will is that “If I have a will, my family won’t have to go through the lengthy and expensive probate process.” Wrong. A will does not avoid probate; in fact, it guarantees it. The will provides the directions to the Probate Court judge about who gets what. However, Georgia law still requires the judge to determine whether the will is valid, to swear in the person the will named as the executor, and to authorize the executor to carry out the gifts and administrative tasks necessary to settle the estate.
By being proactive with your planning, you can strategize various ways now to reduce expenses to your estate later. These strategies should always include a will as a backup option. However, it can also include utilizing revocable living trusts, irrevocable trusts, property transfers, and gifts during lifetime, beneficiary designations, and more.
Wills for the People is ready to help you strategize and implement ways to keep more money in your estate and control how and when assets are passed on. Use any of the following options below to get in touch with us!
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