How does administration of a will work?



This is a great question because many people are unaware of how the process actually works, and it’s not as simple as you may think. So, in order for assets in a will to be transferred to a beneficiary, the will first needs to pass through a court process known as probate. During probate, the court oversees the will’s administration, to make sure your assets are distributed according to how you have outlined it in your will. However, probate proceedings can last for months or even years, and your family will most likely need to hire an attorney to represent them, which can result in steep legal fees that can drain your estate. During probate, there’s also a chance that a family member will contest your will (which we know can get ugly). Trusts however, don’t require your family to go through the probate process, which will save them time, money, and can eliminate potential conflict amongst those you love. Plus, when you have a trust set up, the distribution of your assets happens in the privacy of our office—not in a courtroom. A living will is the best way to ensure your wishes for life-sustaining measures are respected and your family is not left making difficult decisions on your behalf. Not only can we help you draft a living will, but we can also provide copies to the executor of your will, your family and your health care providers (with your consent).

 

This article is a service of The Ambitious Legacy Firm. We do not just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by using the link below to schedule a call with our Client Services Director, who will be able to guide you on scheduling your Legacy Planning Session, or by emailing us at legacy@franco-lawfirm.com. Mention this article when you reach out to us to find out how to get this $750 session at no charge.


 

WE CARE ABOUT YOUR LEGACY. LET US HELP YOU PLAN IT!



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