What is a living probate?
Most people, when they hear the word “probate” think it is only something that happens when a person dies. Unfortunately, probate can also happen while a person is alive. It is often referred to as a “living probate.” The legal term is a “conservatorship” or “guardianship proceeding.” If you become mentally disabled before you die, the probate court will appoint someone to take control of all of your assets and personal affairs. These court-appointed agents must file strict annual accountings with the court. The entire procedure is expensive, time-consuming, and often humiliating.
When you mention the word “probate,” most people think it’s only something that happens when you die. Unfortunately, probate can also happen while you’re alive. It’s often referred to as a “living probate” but it’s technically called a “conservatorship” or “guardianship proceeding.” If you become mentally disabled before you die, the probate court will appoint someone to take control of all your assets and personal affairs. The entire procedure is expensive, time-consuming and humiliating.
A Living Probate, sometimes referred to as a “conservatorship” or “guardianship,” is a proceeding in the probate court designed to protect you in the event you become mentally disabled and unable to effectively manage your financial affairs. Because you are no longer able to sign your name or transact business, the probate court has to appoint someone to manage and assume your financial affairs for you. You may become mentally disabled due to a stroke, or a disease such as Alzheimer’s, Parkinson’s, or Huntington’s. You can become mentally disabled as a result of a debilitating automobile accident as well. A Living Probate can be very expensive and time-consuming. If you become mentally disabled, your family must, in most cases, hire an attorney to prepare the necessary documents that the court requires and to make court appearances. The attorney generally charges on an hourly basis for the time he or she expends on the case, including time spent in court, on the drafting of legal plead
