Wise Words from the Staff
Sarah Whiteley, Client Services Coordinator
Strike up a conversation with just about anyone, and I bet they have had, or know someone who has had, an unpleasant experience with the Probate Court. Probate is the legal process of settling your Estate after you pass. It can be costly, time-consuming, and stressful for all involved. There are set procedures in place that Attorneys must follow to settle a Probate Estate. Unfortunately, this process has the potential to expose your personal and financial information to the public and create conflicts amongst your heirs.
Recently, a file I was working on required me to visit one of our county’s Probate offices. As my day-to-day does not involve Probate, I did not know what to expect going in. In fact, my day-to-day revolves around avoiding Probate at all costs. I was stunned at how vulnerable the Probate court leaves a decedent and their estate. Anyone can walk right into the Court and request to see a file for anyone, for any reason, no questions asked. Once the clerk retrieves the file for you, you are free to peruse the entire file contents, which likely contain a Last Will & Testament and Death Certificate- both of which harbor extremely confidential information such as names, addresses, social security numbers, financial account information, asset valuations- the list goes on. The court even allows you to take copies of the files with you, likely at no cost.
My intentions with these files were not malicious as I was helping a client fix some past oversights on asset transfer to avoid Probate for themselves down the road. But again, anyone, for any reason, can go and request these files, and not everyone who is accessing this information has as pure of intentions as I did.
Fortunately, there is a way to avoid probate and ensure that your assets are distributed according to your wishes: a Revocable Living Trust. A Revocable Living Trust is a legal document that allows you to transfer your assets to a Trust during your lifetime and name a Trustee (often yourself). You can also name a successor Trustee, who will take over the management of the Trust after your death. A Revocable Living Trust gives you the flexibility to change, amend, or revoke the Trust at any time, so long as you are mentally competent. You can also add or remove assets from the Trust, or change the beneficiaries, as you wish.
When you die, the successor Trustee of your Revocable Living Trust will distribute the assets to the beneficiaries according to the terms of the Trust, without going through the court, ultimately, saving time, and money, and maintaining privacy.
Sarah Whiteley has been with Legacy Counsellors, P.C. since November 2020. She works alongside the Attorneys to draft Trust-based estate plans and ensure each client’s plan is fully funded and transitioned appropriately to our Continuous Care Maintenance Program. In her free time, you can find Sarah caring for her herd of dairy cows. If you attend any of the local fairs in the fall, you just might catch them there!
To consult with an experienced legal expert in estate planning, contact Legacy Counsellors today at info@legacycounsellors.com or (413) 527-0517.
Sarah Whiteley, Client Services Coordinator