LA Probate Law – For Legal Management of Family Assets after Tragedies
When the head of a family expires leaving behind the dependants and all of his or her earned assets and estates in a disarrayed condition, Probate Law comes into action. Probate Law is a legal process that manages the properties of the deceased person and distributes them in a peaceful way to the rightful heirs. Among the 50 different states in the United States of America, having different methods of applying for the Probate Law, LA Probate Law (Los Angeles Probate Law) is one of its kind. The salient features of LA Probate Law and its beneficial effects are discussed below –
A will or testament – A valuable tool of LA Probate Law
It becomes easier for the probate process to be executed if the deceased person had made a will or testament mentioning his/her wish to distribute the property after death. In such a case, the court validates the acceptance of the creditors and declares the new owner of the property as per the will of the deceased. In case, the deceased had not made any will, the court takes responsibility of selecting a nominee of the property. In accordance to the LA Probate Law, the first choice of nominee is the spouse of the deceased. In case of the absence of the spouse, the children of the deceased are chosen as the nominee of the property. If there is a single child then the situation is less complicated. But in case of more than one child, the property is distributed equally among the children. If any of the children is minor in age, then a temporary candidate is employed by the court to look after that part of the property, until the child grows up and becomes intelligent enough to understand and protect his/her own part of the property. Besides some more conditions, in some different situations are required to be fulfilled. The conditions and the situations are as follows.
· In case of the deceased person being mentally unstable at the time of making the legal will before his/her death, the instability has to be proved with proper medical evidences. The Probate Law solves out the problems related to this situation and hands over the property to the legal heir.
· In case of unfair wills, made a long time ago, dealt with multiple heirs, the Probate Law intervenes and legally evaluates the present situation and peacefully distributes the property among the heirs.
· Nowadays, the Probate Law takes action by setting up an inquiry commission to find out the real story behind the forged testaments. These types of wills generally deal with multiple heirs, having an unjust tilt in their favor. The Probate Law thus ensures justice towards the rightful owners.
Setting up trust to make the probate process simpler
“Trust” is an organization that takes care of one’s wish after his/her death, i.e. if a person set up a trust stating his/her wish to distribute property, then the organization will come forward after the person expires, to manage the assets and estates left behind and distribute them to the heirs or beneficiaries as per the person’s wish, obeying the legal approaches of the LA Probate Law. The “trustee” is the person who supervises the trust. One can select anybody as trustee of one’s property but generally, the officers of banks and other financial organizations play the roles of trustee. A person can give any kind of assets in the hands of a trust, be it tangible, intangible or real properties. The estate documents and trust set up documentations submitted in the proper format and shapes, simplify the probate process. Thus setting up trust guarantees the fact that the dependants of the deceased person don’t get trapped and mislead by the legal complications. Establishing trust also has some key advantages over making wills or testaments. One’s plan to manage and distribute the property or the amount of assets and estates can be kept private if the wish is made through setting up the trust, unless the conditions of the trust is challenged by somebody. In such a case the plans become public, for the sake of authentication of the validity of the trust. The other huge benefit of establishing the trust rather than making a will is that, the family members of the deceased person don’t need to deal with the complications of the legal tangles. The trust takes responsibility of management and distribution of the properties of the deceased, dealing with the diplomatic and complicated precisions of LA Probate Law.
The importance of an experienced lawyer
Selecting a good and experienced lawyer is of utmost importance in handling the probate process. This tricky process of selecting the lawyer can be done by calling a number of lawyers for interviews. Different lawyers demand different charges. So keeping in mind the economic feasibility as well as the importance of experience and expertise, the best possible attorney should be hired. The LA Probate Law should be handled very precisely. So it’s always better hiring a skilled attorney. It’s true that hiring a good lawyer drains a good amount of money, but in return it gives time at the tumultuous situation after losing one’s near and dear one. A certain protocol is maintained by LA Probate Law to solve each of the cases. As soon as the case is filed, the estate and the amount of assets of the deceased person are evaluated and all the properties are taken into account. Next it’s ensured that the properties are legal and the pending taxes are cleared. In the next step the remaining properties are distributed and handed over to the legal heirs and beneficiaries as per the statements of the testament or the verdict of the court. The entire incentive of this law is to hand over the rightful properties of the deceased person in the hands of his/her wished legal heirs.