Our Overland Park probate lawyers can provide representation during the probate process. We also help people creating an estate plan who are considering whether they should take steps to avoid probate. Regardless of whether you are planning your estate or coping with the death of a loved one, you need to understand exactly what is involved in the probate process and how that process will impact you.
Parman & Easterday has helped many Overland Park clients with estate planning and probate issues. We know the ins-and-outs of Kansas probate laws and can help you make smart choices regarding your assets and providing for your loved ones. To find out more about how our legal team can help you with a wide variety of probate issues, give us a call today. You can also learn some key facts about the probate process so you will be prepared for what this process entails.
Probate is Time Consuming
Probate accompanies most deaths and can often be burdensome for those involved. According to Investopedia, the probate process generally lasts a year or more. If the estate is relatively small, it may still take months to complete just due to the logistics of completing a probate. If more complex issues arise, the whole process will, likely, last even longer. Further, if you know your loved ones may need quick access to some or all of your assets, avoiding probate will be vital.
Probate Can Be Costly
Investopedia also reports that probate costs often range from three to seven percent of your estate’s assets. Certain assets may also require the payment of taxes, which can be a very significant expense. However, there are proven ways to reduce estate and income taxes, avoid probate, and save on costs. Parman & Easterday will help you explore available options, keep more money in the estate, and transfer the most assets to your loved ones.
A Will Could Be Contested During Probate
During the probate process, there is an opportunity provided for someone to contest a will. If a will is successfully contested, the wishes of the deceased that were expressed in the will are not going to be honored. If you are concerned your will could be contested, you should talk with an Overland Park probate lawyer about the ways that you can reduce the chances of this occurring, such as including a no contest clause in your will or transferring assets using tools other than a last will and testament.
Creditors Can Make Claims During Probate
Probate also allows your creditors to make claims against the estate. Valid creditor claims must be paid out of the assets of the estate and your loved ones will only get what is left over after all claims are satisfied. It is important to protect assets for your loved ones, rather than be lost to creditor claims. Further, if you have received Medicaid services, the state’s Medicaid recovery rules may allow the state to recoup money spent on services from your estate.
Probate Can be Avoided
If you want to make sure your loved ones do not have to deal with probate, there are estate planning options that can avoid it entirely. Parman & Easterday can assist you prepare an estate plan that ensures your loved ones avoid probate after your death.
Getting Help from Overland Park Probate Lawyer
The Overland Park probate lawyers at Parman & Easterday can make it easy for you to avoid probate through trusts and other legal options. We also represent executors, heirs or beneficiaries during the probate process to help ensure that it goes as quickly and smoothly as possible.
To find out more about how probate works in Kansas and how our legal team can help you, join us for a free seminar. You can also give us a call today at (405) 843-6100 or (913) 385-9400 or contact us online to get personalized help with the probate process.