Before inheritance is distributed, there is a legal process that determines the validity and authenticity of the will. This process is known as probate.
At times, the process can be lengthy, costly, and frustrating due to various factors. It’s worth noting that the beneficiaries can never receive their share of the inheritance before the probate. Here, we tell you some of the major causes of probate frustrations.
What Causes Probate Frustrations?
As discussed above, probate frustrations can result from multiple factors including;
1. Lengthy process and Delays
The period that the probate takes to process an inheritance varies depending on various factors. However, the process usually faces some delays, which cause frustrations. Some delays can be controlled while others are out of our control. Sometimes, probate is slowed down by government bodies.
Also, the probate courts receive many cases related to wills and inheritance. They have to process these cases on a first-come-first-serve basis. The process of registering your case with the probate case is also lengthy and time-consuming.
Typically, the probate process may take anything from six to 12 months from when a person dies. However, some circumstances such as inheriting real estate may extend the probation period to more than a year. For instance, if there is no will, the probate may take more time trying to identify the rightful heirs and how to distribute the property of the deceased to their best interest.
Also, if the property and assets to be shared are considerable, then the probate process is likely to take long, causing frustrations to the beneficiaries.
2. High fees and inheritance taxes
Well, there’s nothing for free in this world. Besides, inheritance is taxed by the government.
Apparently, there is some fee charged by the probate courts for processing an inheritance. Initially, those involved were to pay a flat fee for the probation process until 2018, when the charges spiked and were to be paid depending on the property/estate worthiness. And where do you get the money to pay for all these charges before the probate? An inheritance advance loan can help you sought out all your financial problems.
Before this rule was implemented, the probate court witnessed a surge in applications because most beneficiaries didn’t want to incur the high charges. Now, queuing for almost a whole day without getting any services? It can be very frustrating.
On the other hand, those helping you to process your inheritance will need to be paid. In most cases, you can hire an attorney to help you speed up the whole process, but you should be ready to break the bank.
Inheritance taxes can also prolong the probate process, thus causing frustrations to the beneficiaries. The probate courts must take time to identify the value of the property or estate(s) and the amount of tax to be paid. Besides, many people hate inheritance taxes.
3. Inheritance claims
Inheritance claims is another major cause of the prolonged probate process and could cause frustration among the beneficiaries. This usually happens when there are some conflicts in the will. For instance, if the deceased omits his spouse in the will, the wife has the right to file an inheritance claim and to get what rightfully belongs to her.
Again, some beneficiaries may not be satisfied with the distribution of the property of the deceased, and especially when there is no will. This could create conflicts leading to inheritance claims, thus prolonging the probate.
Inheritance claims should be made within six months. Until then, solicitors will hold the money or property. The long wait can get the beneficiaries irritated.
Probate frustrations are mostly caused by delays during the probation process. Probate takes a longer time, usually six to 12 months from the time a person dies. Besides, tax and fee payment are part of the probate process that can cause infuriation among the heirs. Inheritance claims can also take a toll in the probate process leading to frustrations.