In estate planning circles, the word “probate” often has a starkly negative connotation. Indeed, financial planners recommend keeping property out of probate whenever possible for many people- especially those with larger estates. That being said, the probate system was ultimately established to protect the property of the deceased and his/her heirs, and in a few cases, it may even work to an advantage.

When you pass away, your family may need to visit a probate court to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in only your name. Although having a will is a good basic form of planning, a will does not avoid probate.

One would assume that celebrities who have accumulated great wealth would take steps to protect their estates. Not so. Some of the world’s richest and most famous people enter the pearly gates with no estate plan, while others have made estate planning mistakes that tied their fortunes and heirs up for years in court.