The Good and Bad of Texas Probate

 Posted on February 21,2024 in Estate Planning

Probate in Texas is not always as complicated as it may seem. However, it is often made easier with the help of an attorney. In an ideal circumstance, the probate process will run quickly and efficiently. However, it can just as easily become a nightmare for the loved ones left behind. There are both pros and cons to the probate process that you will want to know about before tragedy strikes.

What is Probate?

Probate is the process of the Probate Court where a decedent’s assets are distributed. It is often administered through a will or the deceased who died intestate. The deceased’s assets are collected and used to pay for any remaining liabilities their estate may still have before being adequately distributed to other beneficiaries. All assets that cannot pass directly to beneficiaries must undergo probate.

The Pros of Probate

The probate process can serve to help smaller estates, especially for those who have died intestate. Though likely not to be done promptly, the probate process in these circumstances can ensure that the proper beneficiaries inherit the correct property left behind by the decedent.

Probate proceedings can help in some regard if you do not have the financial resources to worry about estate planning before your death. Instead, the estate can bear the costs of the probate process after you die, which may be a better option depending on your financial situation.

Probate is also beneficial to a decedent who wishes for the distribution of their assets to be public knowledge. This can be carried out for those who leave behind a will as well as those who do not.

The Cons of Probate

The probate process can waste valuable time and resources while creating a stressful situation for loved ones awaiting asset distribution. It can sometimes take many months to years for the entire probate process to reach completion, even for smaller estates. Family members who feel slighted can create even more turmoil by bringing a lawsuit against the estate, lengthening an already lengthy process.

In some circumstances, it would be more beneficial to your loved ones if the probate process was avoided altogether. One of the best ways to accomplish this is to create a living trust to protect your assets from probate, taxes, and creditors.

Contact a Denton County, TX Estate Planning Attorney

There are some advantages and disadvantages to probate that everyone should know. An experienced Flower Mound, TX probate and estate planning lawyer can help you navigate the complexities of the entire process. For a more in-depth look into what probate means for your estate, contact the Colbert Law Group PLLC at 972-724-3338 to set up an appointment.