While it is a legal process designed to protect the rights of heirs and creditors, it presents three major issues for the heirs:
A Probate is a process by which a court provides a degree of supervision and oversight to the administration of a deceased’s estate.
Too costly. In additional to mandatory filing fees, it is likely that the heirs to the estate would need to hire an attorney to represent them. The higher the value of the estate, the higher fees that would need to be paid.
Too long. If there are no explicit instructions left by the deceased, the Probate process can be contested by various parties, like unsatisfied heirs or creditors. This can prolong the time by which the estate is settled considerably.
Too public. Since the Probate process is open to the public, the will of the deceased as well as their entire estate assets and value become publicly-known. But there is simple way to avoid all these three inconveniences by using one process called the Living Trust.