At least a portion of most people’s estates need to go through the probate process at the end of their lifetime. Probate can be take time and be costly because of the court administration that is involved.
If your loved one has recently passed and their assets are going through the probate process, the length of time that this will take will depend on several factors. The following are some of the most common reasons why the probate process becomes more drawn-out.
Assets are held over multiple states
Different states have different processes and laws that dictate how assets should be dealt with. Therefore, if a deceased person had most of their assets in Florida but also had a property in New York, this property may need to go through an ancillary probate process.
Estates include unusual assets
When unusual assets such as antiques, art or collectibles are held within the estate, the estate may take longer to value. Experts may be required to form an accurate valuation of these assets.
Estate beneficiaries are in a dispute
Conflicts between beneficiaries can lead to particularly long delays in the probate process. The personal representative may encounter difficulties in taking any action without gaining permission from the probate judge first.
There are conflicting wills
When more than one will exists, the most recent version will be observed. However, when the most recent will is not entirely clear or has signs of being subject to undue influence, it may be contested by a beneficiary.
If you are eager to speed up the probate process of your loved one’s estate, you should consider the specific challenges that apply to their estate.