Reasons why you want to avoid probate

Attorney Tom Olsen: Even if you got a will, remember that having a will has nothing to do with avoiding probate. A will simply directs what happens to your assets when they go through probate. Here at the Olsen Law Group in Orlando, we want to help you to avoid probate. Why? Why do we want to avoid probate, Holley?

Attorney Holley Knapik: Because probate is expensive, probate takes a long time, and it's not a fun process for the family to have to be in limbo in essence until a case is settled and the assets can be distributed.

Tom: Yes. Back when I was in the early days of practicing law, probate might take four months, but these days, man, they take a lot longer because it takes a lot longer to get time in front of a judge to get things signed.

Holley: Absolutely.

Tom: Now we're talking, of course, I've had a career where I told people to allow 4 months for probate, but I just need to rethink that these days and say it's more like 9 to 12 months to get a probate done.

Holley: 9 to 12 months, yes.

Tom: Yes. Typically, the assets are locked up during that period of time, and Mom and Dad don't want to hear that. They want to hear that when they pass away, their assets quickly, easily, inexpensively, go to their kids without it being tied up in probate and fees and costs and time.

Holley: Absolutely. Absolutely.

Tom: That's important to people and they want to pass on as much as they can wealth as they can without it being taken through probate.

[00:01:18] [END OF AUDIO]