Probate cuts off the claims of creditors after the four-month period following the first date of publication of notice to creditors of the decedent's death. The transfer of title is a public record that prevents problems with title companies. Questions and disputes are settled under the protection of the court. The estate is a separate taxpayer and some tax planning may result. The costs are deductible for income tax purposes if properly planned and for death tax purposes if properly planned.
Court proceedings are inherently inflexible.