When you pass away, the estate you leave behind must go through the legal process referred to as “probate.” Probate serves numerous important purposes, including authentication of the decedent’s Last Will and Testament (and litigating any challenges thereto), identifying and valuing estate assets, paying creditors and taxes, and distributing assets to beneficiaries and/or legal heirs. Delays during the probate of an estate can be costly, both in terms of time and money. To help your estate proceed smoothly through the probate process, the attorneys at Legacy Estate Planning, LLC discuss what might cause probate delays in Washington State.
Why Should You Worry about Probate Delays?
Your primary motivation for creating an estate plan was likely the desire to decide what happens to your estate assets after you pass away. Understandably, you want to ensure that your loved ones are protected and financially secure after you are gone. For your estate plan to accomplish these goals, however, your estate needs to proceed through probate in a timely manner. Delays during probate will result in delays distributing estate assets that your loved ones may be depending on to pay bills and purchase necessities in your absence. Consequently, you should do everything you can to eliminate the possibility of probate delays.
Common Causes of Probate Delays in Washington State
To ensure that your loved ones receive their inheritances as quickly as possible, you need to understand some of the common causes of probate delays in Washington State so that you can try to avoid them, such as:
- Leaving an Intestate Estate: Dying intestate (without a Will or trust) inevitably slows down the probate of an estate because disputes are more likely in the absence of clear instructions from the decedent.
- Choice of Executor: If you execute a Last Will and Testament, you will appoint someone as the Executor of your estate. This person will oversee the probate of your estate. Choosing someone who lacks experience or knowledge or who is not emotionally capable of focusing on his/her duties as Executor will cause delays.
- Creditor Disputes: Once probate is opened, notice must be given to creditors of the estate. Creditors then have four months (usually) to file claims against the estate in Washington State.
- Lack of Liquid Assets: All estate expenses, along with approved debts of the estate, including federal and state taxes must be paid before assets can be distributed to beneficiaries and/or legal heirs of the estate. If the estate lacks sufficient liquid assets to pay debts and taxes, estate assets may need to be sold to raise the necessary cash. This can delay probate.
- Litigation: If the estate becomes embroiled in litigation it can delay probate for months, even years. Litigation could be the result of someone contesting the validity of the Will, disputes over creditor claims, complaints about how the Executor is performing his/her job, or disputes between beneficiaries/heirs.
- Complex and/or valuable estates: When an estate is comprised of particularly valuable and/or complex assets it typically prolongs the time it takes to get through probate.
Understanding these common reasons for an estate to experience delays during the probate process should help you to plan accordingly so that your estate makes it through probate as efficiently and expeditiously as possible.
Do You Need Help to Avoid Delays during Washington State Probate?
If you are ready to create a trust, contact the experienced Bellevue estate planning attorneys at Legacy Estate Planning, LLC by calling (425) 455-6788 to schedule an appointment.
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