There are litigation consequences if no probate is filed.
The beneficiaries can file a lawsuit against the executor for losses.
And the executor will get help financially responsible for their heir’s losses.
This is true if these losses could have been avoided.
Losses coming from no probate getting filed includes:
Investment losses include the executor not filing the probate and the market crashing.
Investments include things like a 401k, Roth IRA, rentals, or other investments.
Let’s say the 401k is worth $100,000 when the person passes away.
And the executor takes 2 years to file probate.
But within those two years, the market crashes 50%, leaving the 401k to be worth $50,000.
Since the executor did not file probate in a timely manner, they may be liable for that loss.
Creditors can also file a lawsuit against the executor as a consequence of not probating a will.
Creditors have a claim to the estate to pay back debts.
If an executor is not probating a will, they are denying the creditors what they are owed.