Probate

Although Probate is thought of as a negative thing to be avoided, the negative image has largely been promoted to scare people into setting up Revocable Trusts, even though the trusts are not always necessary.  The Probate process provides court supervision to the collection and distribution of assets, and sets a time limit for creditors to file any claims against a decedent.  When there is no Probate, creditors have two years from the date of death within which to file a claim.  In Probate, creditors are limited to a three month claim period.  The Trust administration is frequently done with no supervision whatsoever, making it susceptible to abuse and maladministration.