Estate Planning

Once a Probate is complete, can the administrator rent the property and refuse to sell?

The administrator has to distribute all monies equally among the heirs. If any of the heirs want the property to be sold, then the administrator must sell. If he/she refuses, then the heirs could remove the administrator or petition the court to force the sale of the property. A consultation with an attorney would help to determine the best options for the heirs.

In a California Probate situation, how does an heir proceed when he lives in another state other than California? continue reading...

If the deceased had real estate in California and it was valued at more than $20,000 but less than $100,000 then a Probate would be necessary. However, this is called a Succession of Real Property which is a shorter Probate and less costly. If the value of the property (that is not real estate)is under $100,000 in California, it is not considered an estate. As such, credit cards in the deceased name would more than likely not have to be paid. A Probate Code Declaration would need to be prepared by an attorney so that assets could be transferred to the heirs or beneficiaries. continue reading...

• WHY DO I NEED A POWER OF ATTORNEY?

The purpose of the Power of Attorney is to nominate someone to handle your affairs when you are alive but are unable to make healthcare or financial decisions for yourself. This could occur if you had an illness or accident and were unable to make your wishes known. A Power of Attorney is only valid when you are alive and ends upon death. There is a financial Power of Attorney and one for healthcare (in California this is called a Healthcare Directive). continue reading...

• WHY DO I NEED A TRUST?

If you own real estate in California, then you will need a Trust to avoid Probate for your beneficiaries. A Probate usually takes 7 months to several years to complete. It also can be very costly. A Trust is the instrument that allows you to expedite the transferring of estate assets and reduces legal costs and, in many cases, gives options to the owner of the Trust as to how to distribute the Trust assets. continue reading...

• WHY DO I NEED A WILL?

A Will is necessary because it lets your heirs know how you want your possessions and your children (if you have them) handled in the event of your death. The will can nominate a guardian(s) (for both the estate and the person) of minor children (under the age of 18 years). It can also designate a person(s) who will inherit your estate. It can also make clear how your possessions should be divided and to whom they should go. However, a will does not avoid the cost of Probate…only a Trust, in California, can do this. continue reading...

In California, an Advanced Healthcare Directive is a document that specifies the kind of healthcare treatment desired if one were to become incapacitated and unable to make these decisions for his or herself. One of the questions that would be addressed is whether the person would want to be kept alive by life support. In this document, a person or persons would be nominated to carry out the wishes of the incapacitated person. continue reading...

A contested probate is a probate in which someone challenges the distribution of estate assets or the appointment of a personal representative of the estate.  There are many variables to contested probate matters.  Someone may falsify documents with the intent to prevent other heirs from inheriting all or part of an estate; someone may challenge a will stating that it is not accurate or that certain heirs were left out; someone may allege that documents such as a will or trust were destroyed or seem to have disappeared.  No matter what the particulars of the contested matter, continue reading...

Every state has different laws with regard to Probate.  In California, a Probate usually occurs when the value of the estate is over $100,000 and there is no Trust (also called Living Trust).  The most common way to avoid Probate in California is to create a living trust.  This means that if a person had a will, and no trust, their estate would still go through Probate if the value of the estate was over $100,000.  A Probate is not only for physical property such as a house or condominium, it may also include bank accounts, investment accounts, retirement accounts etc.&n continue reading...