When someone passes away those left behind must figure out how to transfer or inherit any property belonging to the deceased. Although there may be exceptions, inheriting property usually requires going to court. Gallinger Law understands the complexity of dealing with court proceedings so we have provided an explanation of the probate process below.
What Is Probate?
Probate is a legal process in which a special court oversees the administration of a deceased person’s estate. Probate is required for the reasons below:
- Validate the Will: Once relatives submit an application for probate, the court will first verify the right version of the Will is being used.
- Identify Assets and debts: The existence of a Will shortens the length of probate since it usually includes a detailed description of the decedent’s assets. However, it is possible the deceased did not include all of his or her property in the Will. This usually happens when a property was purchased and the decedent didn’t have enough time to update the Will.
- Pay any debt and taxes: The assets of the deceased are fair game to repay the creditors and for taxes. This means car loans, housing loans, student loans, etc. The executor is responsible for submitting the final income tax declaration form of the deceased as well.
- Distribute Assets: Once all the debt and taxes have been paid, it is time to allocate the remaining property according to the deceased’s will or according to California law.
How Does Probate Work?
After your death, the person you named in your will as executor files papers in the local probate court. If the deceased does not have a will or does not clearly determine the executor of the will, the court will appoint an administrator to monitor the probate process. In many cases, this person is the closest relative to the decedent. If the court-named executor or administrator does not want the role he or she can always reject the role. In these cases, the court turned to another person. Your executor must find, secure, and manage your assets during the probate process. The executor or administrator will make important decisions about your estate such as selling property to pay taxes or debts.
The length of probate varies in California. The process usually lasts 18-24 months, especially if the court is backed up or mistakes were made along the way. Luckily, the state of California enables several shortcuts to shorten the time it takes the process to be completed. When it comes to the costs of probate, fees are paid or reimbursed by the estate in most cases. Probate costs can vary, depending on whether you administer the estate all by yourself, with some paralegal assistance, or choose to work with a probate lawyer who will do everything for you.
Can You Avoid Probate In California?
If probate sounds long, complicated, and expensive, you will be glad to know that you can avoid this process in California. The most effective way to achieve this goal is to bring all your assets into a living trust. You can name one or more beneficiaries to automatically transfer your assets upon your death. Another option is to list assets as payable on death or designated beneficiaries, such as bank accounts and life insurance. The ownership is usually automatically transferred to the surviving owner.
Our goal at Gallinger Law is to simplify the estate planning process for you. We’re here for all of your estate planning needs, whether it’s creating or updating your estate plan, knowing what to do when someone dies, or business law, nonprofit applications, and immigration services. If you are considering services near Los Angeles County, the Inland Empire, and Orange County call 888-255-9147 to speak with one of our attorneys.