Probate in California Explained by LA Probate Law
If you are currently in a situation where you’ll be dealing with the California state court system in relation to a probate or estate related matter, or if you think that you will be in this kind of situation in the near future, it is important that you hire a LA Probate Law attorney that knows the ins and outs of California probate law. Probate law has to do with the handling of an estate when someone, such as a family member or other loved one, passes away. These are the laws that make sure that the creditors are paid properly and that assets are distributed to the “heirs,” or the descendant. When you find yourself in a situation where you’ll be dealing with probate law, it’s a good idea to already have in mind what you are going to need to do.
What exactly is Probate?
Probate is the process by which the Probate Court handles a deceased person’s estate if there is no trust; it applies if there is a will only, or if there is no will. (One of the primary reasons for having a trust is to distribute the estate without having to go through probate.) Essentially a probate petition is filed with the Court, creditors are notified, the personal representative lists all of the estates assets and liabilities, a probate referee appraises the assets, any disputes relating to the estate are settled, a final accounting is made, the creditors are paid and then the remainder is paid to the beneficiaries. Finally, a petition for discharge is filed, and the estate is closed. While on one hand, this may sound simple, probate law and the handling of estates is in fact a complex system, which presents you with multiple requirements and tasks to be performed by the personal representative, an experienced attorney and a tax consultant. LA Probate Law states gives an example, an estate including only a single house and single bank account that has been left to a single beneficiary will probably be a far easier and quicker process to deal with than an estate containing multiple houses that are located in various states, and that are left to multiple beneficiaries.
California Probate Codes
In order to get through the California probate process without any hang-ups or snags, you will need to understand how the procedure works. This will allow you to plan ahead, with respect to different tasks that the personal representative handles. If you don’t know much about the probate process, you will want to look for a LA Probate Law attorney who does and who can help you with your particular case. You’ll also need to know what a “petition” is, and how it is filed with the court clerk. If you are a “petitioner” and are absent from the country or unable to verify a petition, you should know that your attorney can do it for you. What you can see from this bit of information is that attorneys can help you manage responsibility that the state places on you, so that everything is handled in a legal fashion, and you end up getting all that you deserve and are entitled to. “Reports” and “accounts” in California can be verified by anyone who has that duty, and if there is more than one of them, only one is necessary. In California, someone can make a “response or objection” at or before the probate hearing. This is important, because it often means that the personal representative will have to deal with out-of-the-ordinary procedures, which would be difficult and complex without the help of an attorney. The court will either hear this kind of response or object it then and there. They may also call for a “continuance”, in order to set aside time for this in the future, if it looks like it may be an issue that will require more time to resolve than the court has available. Requests for continuances are not acknowledged in California as objections or responses themselves; nor are those requests that are made outside of the time limit set by the state. This is important for a number of reasons. In California, the “guardian” or “conservator” has 90 days to present the court clerk with an inventory that includes a “true statement” of the estate of the “conservatee”.
How Much Does Probate Cost?
California Probate Code section 10810 sets the maximum statutory fees that attorneys can charge for a probate. Higher fees can be ordered by a court for more complicated cases. The fees are four percent of the first $100,000 of the estate, three percent of the next $100,000, two percent of the next $800,000, one percent of the next $9,000,000, and one-half percent of the next $15,000,000. For estates larger than $25,000,000, the court will determine the fee for the amount that is greater than $25,000,000. The fees listed below are the California statutory fees used to compensate attorneys and executors in probate cases for various sizes of estates. If both the attorney and the executor receive a fee, the amount paid will be double that shown below. The value of the estate is determined, in general, by the inventory for the estate. Debts are not included in determining LA Probate Law attorney’s fees, and if a house is appraised at $1,000,000, for example, and it has a mortgage of $800,000, it is still considered a $1,000,000 asset for the purpose of calculating attorney’s fees.
Probate in California Explained by LA Probate Law
Latest posts by Scott Schomer, Estate Planning Attorney (see all)
- What are the Advantages and Disadvantages of a Living Trust? - January 15, 2019
- Why Avoid Probate? - January 10, 2019
- When Do I Need a Tax ID Number for a Trust? - January 9, 2019