Using one of the simplified probate alternatives may, at first glance, appear to be a great way to settle an estate for a fraction of the cost of full probate. However, it is essential to recognize that there are disadvantages of simplified probate alternatives that are often unknown to heirs, beneficiaries and estate personal representatives. In this regard, it is important to understand the pros and cons of using a simplified probate procedure rather than simply focusing on how fast you can settle a decedent’s estate. This article reviews the different options of settling estates using simplified probate alternatives and covers some of the advantages and disadvantages of these processes.
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