WHAT IS PROBATE
Does My Estate Have to Go Through Probate?
Most clients would be best served by avoiding probate, even if they aren’t sure exactly why. Probate can be a costly, stressful, and long process for your loved ones, who are likely still grieving.
What is Probate?
This is when the court validates the will, makes sure final taxes and other expenses are paid, and property is given to the proper beneficiaries. Depending on the size of the estate the process can take anywhere from a few months to several years to complete.
Why Do I Want To Avoid Probate?
While probate cannot be avoided entirely, there are ways to reduce the assets that pass through a probate estate, which reduces the time it takes to get through the process. In Virginia, an estate requires probate if its value is $50,000 or more. In order to keep property out of an estate you must take steps to make sure assets transfer automatically to beneficiaries or a trust.