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The Purpose of Probate

The purpose of Probate is to transfer title to all of your assets into the name of your heirs and make sure that all other legal claims against your Estate are considered and paid. Each state sets a minimum asset level, below which there is no Probate. But this level is so low in most states that virtually anyone who owns their home is assured of going through the Probate process. Owning $20,000 worth of real estate in California and Tennessee throws you into the Probate process, and most states have similar laws. Furthermore, the Probate process must remain open for a minimum of 6 months and can run as long as 3 years. Many contested estates have remained in Probate for decades while Probate expenses reduced fortunes to a pittance. The only people who won in those cases were the Probate attorneys who were being paid from the estate assets.