WHAT IS PROBATE?
Probate is a court process whereby a court supervises the distribution of assets to others from a decedent's estate. If a decedent dies without a will, decedent's estate may have to go through Probate and the Probate court will determine who, according to the laws of the State of California, will inherit the decedent's assets. However, even if the decedent had a Will, it may not keep a decedent's estate out of Probate court. Generally, if a decedent dies with a Will and has an estate valued over $100,000, the estate may have to go through Probate.
Probate has become a bad word in our society because it can be a time consuming and costly process. In an uncomplicated estate, this process can take between six months and one year. The Probate fees can be anywhere from two percent to ten percent of the estate. Proper estate planning can avoid Probate. Our office can advise you on ways to avoid Probate.
If you do need to go through the Probate process, our office can help you through every step of the process. Generally, there are several steps to the probate process. The court appoints a person to be in charge of the decedent's estate. This person is called the personal representative. The personal representative gathers the decedent's assets; pays the decedent's appropriate bills; he or she may sell certain of the decedent's assets; files tax returns; and distributes the decedent's assets to the appropriate persons or entities. All of this is done under the court's supervision.
To discuss the steps in the Probate process or ways to avoid Probate, please contact us to schedule a FREE CONSULTATION.
