Planning for what will happen to your estate after you pass away is an important task. While the topic of death of you or your loved one is not always easy to think about, it is important to help your family prepare for the future. With it come plenty of myths that can make this already difficult task even harder to handle.
Here are three of the most common misconceptions about South Dakota estate planning and probate that we hear:
- Completing probate on an estate takes years. The truth is that a number of factors go into determining the length of time it takes to complete probate on an estate in South Dakota. Most of the time, if there are no family disputes, continuous income or complicated cases, completing probate on an estate can take months instead of years.
- My family already knows my wishes for after I pass, so I don’t need a will. This may seem accurate when the loved one is alive, the family is together, and emotions are not running high. But once a death in the family occurs, people change—and emotions can get the best of them. It is a good idea to talk to a South Dakota estate planning lawyer prior to your passing to document your wishes, just in case there is some confusion after you pass.
- Probate is too expensive for my family. Probate can be complex. It’s true that there are some stories of expensive probates, but incidents like this are usually from very complicated estates.
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