Probate is a process that will happen to an estate after a person is gone. It is a very public accounting of the estate, including debts, assets and often who beneficiaries are. Even if specific beneficiaries aren’t listed by name, it can usually be figured out pretty easily.

Many believe that the probate process is private if a will is filed for the estate. This is not true. All wills are a matter of public record; which means that anyone can be looking at it. Why does it matter and who really cares?

Easy Access to Information

In the past, finding out the details of a will meant a trip to the public court house. Documents had to be found, photo copied (or hand copied) and then acted upon. It was a cumbersome process that meant most casually nosy people would avoid it.

In the age of the internet your public documents are now a mere online request away. This means that many more outlets have access to your public records than in the past. It can open your estate and beneficiaries up to all sorts of harassment from the most unsuspected places.

Challengers to the Will

Do you have an estranged child or step child? Maybe an ex-spouse who feels entitled to a portion of your estate? No matter whom it might be, a public record probate will allow these people access to the details of your estate once you are gone. This could mean opening up your loved ones and beneficiaries to a messy and lengthy battle over the details of your will.

While many of these fights end up being lost, it can still cost a large amount of money to get the problem settled. The estate is responsible for paying that and may end up being drained because of it, leaving nothing to those you intended to take care of.

Financial Predators

The world is full of criminals looking to make a quick dollar. Since things like inheritance and lotteries winnings are matter of public record, many criminals search the public records looking for targets. This could mean your family.

A probated will can leave your beneficiaries open to attacks that might compromise their identity, as well as set up false debts that need to be “paid” before the estate could be settled. These criminals will stop at nothing to get their piece of your estate.

Charities

While many are well meaning, charities can become a nuisance of their own. If they see a particularly large amount of money being put up for an inheritance, they may see this as an opportunity for some funding. This can lead them to become an annoyance to your loved ones and beneficiaries. While they are most likely well meaning, it still doesn’t make them any less bothersome.

The Right Estate Plan can Help

Looking for alternatives to a will that will go through probate? Talk to the elder law experts at Stano Law group for help.