Choosing a beneficiary that you can trust to handle your assets responsibly is an important way to avoid probate. Probate is the process of the court proving the authenticity of a Will. If a Will is not provided for a deceased person, then the probate court will assign someone to distribute the assets of the estate to whomever they deem fit.
Estate Planning is crucial to protecting assets and making sure the valuables you accumulated throughout your life are placed in the proper hands. Evaluating the people in your life is also important to avoid probate nightmares. Choosing people that are dependable and keeping honest people in your life is another vital aspect to estate planning.
In Maryland recently, a man who killed his wife sold all of her assets to pay for his defense. Although he was named the beneficiary of her Will, the family of the woman spent the past few years trying to get a bill passed that removes all beneficiary rights of anyone who is charged with murdering the deceased. This case shows an example of probate nightmares. All of the assets were lost and the children of the murdered woman received nothing from her estate, because her husband sold everything to pay legal fees.
In Las Vegas a man was dating a woman before he died. He established no legal documentations naming a beneficiary of his estate. The woman he was dating forged a marriage certification stating that the two were married five days before his death. She was given all rights to his estate and the family of the deceased man was not granted any access to his estate after his death. Many probate courts grant access to the estate to the spouse when no Will is created stating the proper beneficiary. The lady was later arrested, but if the man would have written a Will the entire nightmare this family experienced with a dishonest money-hungry woman could have been avoided.
Kamper Estrada, LLP
After reviewing the possible threat of a probate nightmare our lawyers hope you see the importance of planning for the future. At Kamper Estrada, LLP our experienced team of lawyers are available to help you avoid probate by establishing an estate plan or Will that protects your assets from the wrong people and establishes the proper beneficiary.