The probate process is court-approved and involves the transferring of the assets of a deceased individual to the beneficiaries listed on their will. The process is usually set in motion by the person you have chosen as the executor of your will. Upon your death, he or she will seek an appointment by filing a petition in court. Read more
A revocable trust is a popular estate planning tool that can serve useful property management functions during a client’s lifetime and may also be used as a convenient and efficient means to distribute a client’s assets on his or her death. This article discusses the benefits of using a revocable trust rather than a will or other testamentary instruments such as deeds or transfer on death accounts. Read more
A recent New York Time article highlights some of the complexities of selecting an estate’s executor, Sendak’s Estate: Debating Where the Things Go. The article examines the estate of Maurice Sendak, author of “Where the Wild Things Are”, and its management by its executors. While Sendak’s estate is rather large and complex, the issues associated executor management of an estate can impact estates of any size. Read more
Distribution of assets during probate requires that specific processes be followed. In California probate proceedings, a family allowance distribution occurs during the course of probate and allows for distribution to meet the needs of minor children of the decedent. Read more
Conducting a court supervised probate proceeding in California includes a variety of costs. These include court filing fees, executor and attorney fees, publication costs, and fees paid to the probate referee. The below outline includes a closer examination of these fees and who will typically pay then and presumes that the estate in question has more assets than liabilities. This discussion does not include payment to estate creditors or other liabilities of the estate. Read more
If you have received a DE-121 Notice of Petition to Administer Estate, it means that you likely have an interest in the estate of a person who has passed away. It also means that another person has filed with the court to begin the probate process. The person who files a DE-111 Petition for Probate is required to notice all heirs, beneficiaries, contingent creditors, and persons who otherwise may be interested. If you have received a DE-121, you are very likely to have an interest in or be entitled to receive part of the estate. Read more
Probate proceedings for some estates can drag on for many months or even years. But, by following some of the below guidelines, participants of a probate proceeding can ensure that the probate process is concluded as soon as possible.
As an estate executor, one is required to conduct a search for a decedent’s heirs and beneficiaries. This process can present certain challenges, especially if there is no surviving spouse or close family members who may be able to provide this information. To locate these heirs, the executor must make “reasonably diligent efforts.” But what will the court consider “reasonable”?
This can vary in every case but, by following the below list, executors can provide the court with a degree of certainty that “reasonable” efforts have been completed. Read more
In California, the person in possession of a will is required to deliver the original copy of the will to the court within 30 days of learning of the death of the testator (person who created the will).These actions are required even if no additional probate proceedings are, or are likely, to be initiated. The person in possession of the will must also delivery a copy to the executor, if one named in the will, or the will’s beneficiaries.
If the location of a will is not immediately known, however, a search may be required. Even where a will may be easily located, a search codicils (additions to the will) and later wills is required. The following points include helpful tips for locating a will or codicils. Read more
This is a very common question and one of the most misunderstood points in probate administration. It is a common misconception that if a person has a will in place when they pass away formal probate is not required. Unfortunately, this is not the case and a valid will has no impact on whether or not court-supervised formal probate proceedings must be initiated. Read more