My question involves estate proceedings in the state of: Alabama
Background: My mother passed away in July. She lived with me in Alabama for the last 3.5 years, and I am a joint (primary) owner of her bank accounts. Her will is not legally valid, since it was not signed by two non-family witnesses. However, my sister and I, the only legal heirs, agree that we want to do everything according to Mom's will. Her only assets that require probate are a trailer and land in Mississippi. Most of her money is to be held for grandchildren's college education, but some is to be given to family. Since I've managed her finances for the last few years, I'm pretty certain that Mom doesn't have any unknown creditors. There may be some minor bills outstanding.
The lawyer whom I've hired to do the intestate work suggested that I transfer Mom's money from the joint account to an estate account, so that there will be a clean paper trail showing how it is used over the next several years. However, then the money will be subject to the intestate process and the six month waiting period for unknown creditors.
What are the potential pros and cons of doing as the lawyer suggested?