When making future plans, it’s wise to consider how probate laws affect you and your loved ones. At Alan A. Panek Law Office, S.C., in Wisconsin Rapids, WI, estate planning and probate attorneys educate their clients about the options available to them. They explain what people should know about property disposition.

What You Need to Know About Probate

Defining Probate

Probate is the legal process of distributing people’s property after they pass away. Collectively, the items that belonged to a deceased individual are called the decedent’s estate. Probate laws control how and to whom estate assets are distributed.

Completing probate can take six months for small estates to two years or more for larger, more complicated estates. Costs include fees for lawyers, personal representatives, and document filing.

Probate Without a Will

When people pass away without wills, they are said to die intestate, meaning state law determines who receives their property. In such cases, probate starts with someone filing a petition asking to be named as a personal representative to administer the decedent’s estate.

The state names the representative, and if the decedent had minor children, the state names a guardian for them. Estate administration includes notifying heirs and creditors about probate proceedings, taking inventory of estate assets, paying taxes and debts, and distributing assets to the heirs under state law.

Probating a Will

For individuals who leave wills, probate means validating them and carrying out the terms. The procedure is similar to intestate estate administration. However, wills name personal representatives, guardians, and individuals and organizations to receive estate assets.

Avoiding Probate

Estate planning lawyers help clients arrange assets to reduce or eliminate complex court proceedings. Buying life insurance policies, annuities, and including due-on-death clauses on accounts will avoid probate of those assets. Trusts and other financial vehicles enable individuals to pass real and personal property outside of probate.

Experienced estate planning lawyers guide clients in making decisions in line with their goals and interests. At Alan A. Panek Law Office, S.C., Mr. Panek is skilled in estate planning and probate matters to help area residents make wise choices for the future. Get peace of mind and relieve loved ones of unnecessary burdens. To make an appointment, call (715) 421-4900, or visit his firm online now.