It would be rational to presume that you can leave behind financial resources to your enjoyed ones without losing money at the same time. If you do not plan your estate thoroughly your legacy might well be deteriorated as it is being passed on to your heirs. One source of possession disintegration is probate.
If you use a last Will to mention your final desires the contents of the file will not simply be checked out by your member of the family. The Will needs to be considered valid by the court of probate, and if it is in fact a valid last Will, the court will supervise the administration of the estate. The real tasks associated with administering the estate are dealt with by the executor or personal representative.
There are expenditures that accompany probate and they start with a charge that is imposed by the court itself. The administrator is entitled to payment for his/her effort and time. A probate attorney will be needed and the administrator might have to bring in an accounting professional to manage final taxes and other matters.
The requirement for appraisers and liquidators can emerge. By the time all is stated and done, probate expenses can trim the value of your estate by as much as 10% and maybe more in complex cases.
With the above in mind you might wish to explore choices that permit the transfer of possessions beyond the process of probate. To do so merely connect and set up a consultation to talk to a licensed and knowledgeable Nassau County estate planning lawyer.