Does an Estate Need To Go Through Court-Supervised Probate If There Is a Will?
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.
There is only one factor to determine if formal probate is required in California: the size of the probatable estate. The determination of the size of the probatable estate is an involved process which is outside of the scope of this post but, in a nutshell, a formal probate must be initiated if the estate has probatable assets that are valued at more than $150,000. The existence of a will has no impact on this evaluation.
If the estate does not meet the value required for formal probate, then simple probate proceedings can be conducted to complete the transfer of assets to estate beneficiaries. This process does not require court supervision and can usually be completed by supplying an affidavit to the parties in possession of the estate’s assets.
If you need assistance determining if probate is required for your estate or the estate of a decedent, schedule a free consulation with a Hassell and Hyatt attorney by calling (916) 900-6206.