A lot of people think that the estate administration procedure is very simple and straightforward when a will is used, and they assume that trust administration is much more complicated. In reality, this is a misconception. The executor acts as the estate administrator when a will is utilized, and the executor cannot act independently after the passing of the testator. Under the laws of the state of California, the will would be admitted to probate, and the court would provide supervision … [Read more...] about Five Things You Should Know About Probate
Probate is the legal process that an estate must pass through under certain circumstances. Unless you have a small estate, the full probate process would be necessary if you use a will as your sole asset transfer vehicle. The court makes sure that the will is valid, and final debts must be paid before the estate is distributed among the heirs. If someone wants to challenge the will, they could make a case during probate. While it does serve some useful purposes, it is a hassle for the … [Read more...] about Is Probate Always Necessary?
A lot of people think that a last will is a simple and efficient estate planning document. The idea is that you express your wishes in writing and you name an executor. Your executor will distribute the assets to the inheritors shortly after your death, and that’s the end of the story. In reality, it is much more complicated. When a will is used as an asset transfer device, there is in fact an executor that acts as the estate administrator. However, the individual or entity that serves as the … [Read more...] about A Look at California Probate Shortcuts
What is A Heggstad Petition? Sometimes a person who has created a trust may fail to place a property or asset into that trust before they die. This can happen for a number of reasons. Maybe an extenuating circumstance, such as declining health, hindered them from being able to place their property/asset into the trust. Maybe the decedent incorrectly believed the property was transferred; this could be due to improperly filling out the documentation to have the such property/asset transferred. … [Read more...] about The Heggstad Petition
The probate court supervises estate matters, but there are some types of asset transfers that are not subject to probate. First, we should explain some things about probate so you understand why people often try to avoid it. When an estate is being probated by the court, there are expenses that accumulate, and this reduces the amount of the inheritances that will be received by the heirs. There is also a waiting game, because the inheritors do not receive their inheritances while the probate … [Read more...] about Is Probate Always Necessary?
If you use a last will as your primary vehicle of asset transfer, it would be admitted to probate, and the court would supervise the administration process. The probate court would also be involved if you passed away without any estate planning documents at all. This being stated, there are certain types of asset transfers that are not subject to the probate process. Plus, here in California, there are some probate shortcuts that can sometimes be utilized, and we will share some of the … [Read more...] about Are All Asset Transfers Subject to Probate?
A Los Angeles probate attorney can provide valuable assistance to a Personal Representative through the entire probate process from beginning to end. A Los Angeles probate attorney can be a vital resource since the laws in each state are different when it comes to probate proceedings and the requirements imposed by the probate court. Indeed, the first piece of advice for a personal representative is “hire an attorney.” What estate administration involves When someone passes away, the … [Read more...] about What Can a Los Angeles Probate Attorney Do For You?
When an estate is probated, the Long Beach probate court will supervise the transfer of the estate of the deceased in an organized manner. There are rules and procedures that must be followed, based on the probate laws of the state where the person resided. An executor or administrator will be appointed to oversee the Long Beach probate process. If you have the honor of serving in that important capacity, there are some common mistakes to avoid in probate administration. The Long Beach … [Read more...] about 5 Great Tips for Long Beach Probate Court Administration
The goal of estate planning for most people is avoiding probate. Why? Because probate can be expensive and it can take a long time to go through the entire process. Every estate, regardless of its size, is required to pass through probate so that the heirs or beneficiaries can receive their inheritances. Whether avoiding probate is the right thing for you depends on many factors, so discuss this decision with your probate lawyer. If you decide you want to bypass the process, here is a guide … [Read more...] about Why Avoid Probate?
Despite the best intentions, many families have a difficult time being civil with one another after the death of a family member. For this reason, will contests and trust disputes are more common than you might think. When relatives disagree with how estate property is being distributed probate litigation is the likely result. Probate litigation is simply the proceeding that results when someone who has an interest in the estate property takes their dispute to the probate court to resolve. … [Read more...] about Common Reasons for Long Beach Probate Litigation