Losing a loved one is a deeply emotional time. Unfortunately, families often find themselves grappling with complex legal processes, like probate, while still mourning their loss. Probate is the court-supervised procedure of validating a deceased person’s will and managing their estate. While necessary, probate can be an overwhelming, time-consuming, and expensive process. SaveOr offers a practical solution to streamline this experience, helping families navigate probate with clarity and efficiency.
What is Probate?
Probate is the legal process that occurs after someone passes away to ensure their assets are distributed according to their wishes (if a will exists) or state laws (if no will exists). While probate laws vary by state, the process generally involves:
Validating the Will: Confirming the will is legitimate and enforceable.
Inventorying Assets: Identifying and cataloging all property, including tangible items like jewelry, heirlooms, and furniture.
Appraising Assets: All items must be appraised to the court's standards.
Paying Debts and Taxes: Settling any outstanding financial obligations or taxes owed by the estate.
Distributing the Remaining Assets: Allocating property to heirs or beneficiaries as outlined in the will or state laws.
Why is Probate Difficult?
1. Time-Consuming Process
Probate can take months or even years to complete, especially when assets are not well-documented. Executors must locate all property, determine its value, and submit detailed inventories to the court. Delays often arise when critical information is missing.
2. Costly Fees
The expenses associated with probate—legal fees, court costs, and appraisal fees—can quickly add up. According to the American Bar Association, probate costs typically range from 3% to 7% of the estate’s value, further diminishing what heirs receive.
3. Family Disputes
Unclear wills or a lack of documentation can lead to disagreements among heirs. Emotional attachments to certain items, such as a grandparent’s wedding ring or a treasured painting, often spark conflicts that drag out the probate process.
4. Overwhelming for Executors
Executors, often family members, face the daunting task of managing paperwork, mediating disputes, and meeting court deadlines, all while grieving their loss. Without a clear inventory of assets, this role becomes even more stressful.
How SaveOr Makes Probate Easier
SaveOr is a digital platform that simplifies estate planning and asset management, reducing the burdens associated with probate. By creating a detailed inventory of tangible personal property before it’s needed, SaveOr helps families and executors avoid many common probate pitfalls.
1. Streamlined Asset Inventory
SaveOr enables users to document their belongings with photos, videos, and detailed descriptions. The platform also tracks essential information like:
Location: Where each item is stored.
Financial Value: Estimated worth for court-required appraisals.
Emotional Value: Insights into why an item is significant to the family.
This comprehensive inventory ensures no item is overlooked during probate, speeding up the process.
2. Clear Recipient Designations
SaveOr lets users assign heirs or recipients to specific items. These designations can be included in a personal property memorandum, a document legally recognized in many states, to clarify the distribution of assets during probate.
3. Effortless Collaboration
Family members can use SaveOr’s invitee mode to review and comment on the inventory before probate begins. This transparency can reduce disputes and ensure that everyone understands the deceased’s intentions.
4. PDF Export for Legal Use
SaveOr generates a professional PDF report of the estate inventory, which executors can share with attorneys or probate courts. This simplifies legal proceedings and ensures compliance with court requirements.
A Closer Look: Probate Without Preparation
Imagine a family discovering their parent’s will after their passing. While the will divides the estate among three siblings, it doesn’t specify who should receive individual heirlooms or sentimental items. The siblings argue over items like a watch their father always wore and a china set from their grandmother. With no inventory or written preferences, the probate process drags on for two years, costing the estate thousands in legal fees and straining family relationships.
With SaveOr, such disputes could have been avoided. The parent could have documented each item’s story and designated recipients in advance, providing clarity and reducing stress for everyone involved.
Probate Simplified: SaveOr’s Advantages
Proactive Planning: Document your estate while you have time to reflect on your wishes.
Reduce Court Costs: A clear, organized inventory saves time for attorneys and court officials.
Preserve Family Harmony: Transparent communication minimizes conflicts during difficult times.
Empower Executors: A ready-to-use inventory helps executors manage their responsibilities more efficiently.
Final Thoughts
Probate is a challenging but necessary process that ensures a loved one’s estate is handled appropriately. By using SaveOr to document and organize personal property, families can reduce the complexity, cost, and emotional strain often associated with probate. SaveOr’s user-friendly platform empowers families to focus on what truly matters—honoring their loved ones and supporting one another through life’s transitions.
Author:
Matthew Scola
Founder of SaveOr, an estate planning platform focused on helping families through challenging life events. His insights come from interviewing and working with families and professionals to find a solution to the challenges of downsizing, estates, and estate management.