mburkhardt@burkhardtlaw.com | (314) 518-1581

Burkhardt Law

  • About
    • Who is Martha Burkhardt?
    • Our Mission
    • Client Testimonials
    • What is Different About Burkhardt Law?
    • Contact Us
    • Free Consultation Request
  • Trusts & Estates
    • Why Estate Planning?
    • Is it Time for a Will?
    • What is a Trust?
    • Power of Attorney
    • Deeds
    • Estate Planning Consultations
    • The Impact of a Health Care Directive
  • Business Law
    • Contract Review
    • Operating Agreements
    • Company Formation
  • Traffic Law
    • Why Get a Lawyer for a Traffic Ticket?
    • Traffic Help Now
  • Blog

July 1, 2016 By Martha Burkhardt

Ensure Your Estate Plan Avoids The Headache of Probate

Every year attorneys have the pleasure to updating their knowledge through continuing education. So this week it was my pleasure to sit through two days of extreme detail about probate court. I’m certain you are not reading this because you want to learn all about probate. However, what I want to communicate is that there was two days of material for an attorney (and there could have been more) demonstrating how complicated probate can be.

Even when it is not complicated, it is an administrative headache. An attorney is often required which is frequently the major expense of probate. But the expense is not the only problem. Probate also has many time constraints. Publication and notices are required unless the estate is under $15,000. Which introduces at least one month, if not over six months, of waiting. Opening a probate estate also creates an easy place for challenges and creditors. All great reasons to avoid probate.

Procedures and laws surrounding probate also affect how you plan to avoid probate. One of the laws mishandled frequently is that a spouse is entitled to at least 1/3 of the assets. This is extremely important in blended families when the spouses do not intend to leave all the assets to the spouse. In order to effectively do this a prenuptial or postnuptial agreement is necessary.

The other important provision regarding probate is that minors may not receive more than $15,000 without involving the probate court. Essentially, this means a trust is required to avoid probate when leaving money to minors.

If this sounds like something you want to avoid, then learn more about avoiding probate here.

Filed Under: Beneficiaries, Blog, Estate Plan, Probate Tagged With: assets, avoid probate, Beneficiaries, Bond, court, Estate Plan, minors, pre-nup, Probate, probate expenses, Publication

Categories

  • Blog
    • Estate Plan
      • Beneficiaries
      • Children
      • Gifting
      • Joint Titling
      • Power of Attorney
      • Trusts
      • Wills
    • Probate
    • Traffic
  • Final Arrangements

Archives

Free Consultation Request

Do you have a question that only a lawyer can answer? Request a free consultation now.

Burkhardt Law Firm

Phone: (314) 518-1581
Email: mburkhardt@burkhardtlaw.com
Address:
2333 Grissom Dr., Suite 107
St. Louis, MO 63146

About Us

  • About Burkhardt Law
  • Who is Martha Burkhardt?
  • Our Mission
  • Client Testimonials
  • What is Different About Burkhardt Law?
  • Contact Us
  • Free Consultation Request
  • Blog

Estate

  • Securing Your Family’s Future
  • Why Estate Planning?
  • Is it Time for a Will?
  • The Impact of a Health Care Directive
  • What is a Trust?
  • Power of Attorney
  • Deeds
  • Estate Planning Consultations

Business

  • Building a Firm Business Foundation
  • Contract Review
  • Operating Agreements
  • Company Formation

Traffic Law Assistance

  • Traffic Law Assistance
  • Why Get a Lawyer for a Traffic Ticket?
  • Traffic Help Now

The choice of a lawyer is an important decision and should not be based solely upon advertisements. Any information on this page should not be taken for legal advice. Use of this website does not create an attorney/client relationship.

Copyright © 2023 · All content owned by Burkhardt Law. Website created and managed by Worry Free Marketing, St. Louis. Sitemap.