LEARN WHAT IS PROBATE, HOW THE PROBATE PROCESS WORKS, AND WHAT YOU CAN DO TO AVOID PROBATE…
What is Probate?
Probate is the legal process that occurs when someone dies and their assets are distributed. The Probate court verifies the assets of the decedent and determines the rightful beneficiaries and/or heirs to the estate.
When is Probate required?
In California, Probate is required in any of the following situations:
- When there is no Last Will;
- When there is a Last Will but it is NOT valid; or
- When there is a Last Will but there is NO Trust.
Take note that there are other situations when Probate may be required. It is best to consult an experienced Probate attorney.
What happens during Probate?
The court will appoint the Last Will’s named Executor, or appoint a Personal Representative who will be responsible for managing the Probated estate. The appointee will communicate with the decedent’s family members, identify all the assets, pay outstanding debts, and complete a final tax return. Once all these steps have been completed and approved by the Probate court, the Executor/Representative may distribute the remaining assets to the legal heirs and/or beneficiaries. In the absence of any heirs and/or beneficiaries the property may end up with the State.
Why do you need an experienced Probate Attorney?
People who try to deal with Probate alone without the knowledge necessary to handle this type of situation may actually cause more harm than good.
The lack of understanding of the proceedings can cause unnecessary delays when closing the estate, increased costs, legal issues in the future, emotional stress or family disagreements.
Our Firm is dedicated to counsel clients through this challenging situation to ensure the best decisions are made. We take the best course of action and make sure that our clients receive what is truly theirs in an efficient and stress-free manner that benefits everyone.
How to avoid Probate?
The best option to avoid the stress of Probate is to set up a Revocable Living Trust or Asset Protection Trust. A Trust can own assets including real property, and is managed by a Trustee for the benefit of the beneficiaries. This means that there is a person designated to oversee and distribute the real property, bank accounts, and other valuables placed into a Trust to the appropriate beneficiaries at the time of the Trust Grantor’s death.