Do I Need a Los Angeles Probate Attorney?
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When a loved one passes on, it is likely that some or all of his or her estate will have to pass through probate. The probate process can be complicated and time-consuming. However, our probate attorney, Alice A. Salvo, can review the estate and advise you as to the most efficient and economical manner to transfer property to the rightful heirs. You can rely on us to inform you of all your options to administer and distribute the estate.
Unfortunately, if someone you love passes away, you most likely already have more than enough to handle with the planning of services, informing family and friends, and not to mention, grieving your terrible loss. The last thing you need to have to worry about at this point is managing a complicated legal process that can leave people maxed out in terms of stress and confusion. As difficult as it may be, one of the first people you should contact is a probate attorney in Los Angeles.
What Exactly Does a California Probate Attorney Do?
Our firm helps executors and administrators requiring appointment by the probate court. Once you appoint us as your probate attorney, we then offer the following probate service:
- Publish and bond your estate
- Protect assets through the process and assist to value assets
- Prepare inventory, collect and value assets
- Pay the required expense of the estate as well as taxes and debts
- Communicate all beneficiary concerns
- Give notice to creditors and resolve issues such as creditor claims
- Sell property, file an accounting, and final distribution of the assets
Probate can be an expensive process, often taking a year or longer. California probate law is composed of a large volume of statutes, and is also influenced by prior court cases at the national and state levels. As an experienced probate attorney, whenever possible we work together to reduce the chance of litigation. There are many codes and cases, as well as new and updated laws, so we advise you to hire a lawyer whose sole focus is on probate laws in California, rather than a general practitioner.
Save Your Heirs Stress, Time, and Money
To eliminate the high cost of any probate service it is necessary to plan properly, which means if you’re a homeowner, do estate planning now to take care of your family for the present and future!
A probate attorney in Los Angeles such as Alice A. Salvo can help you plan your estate properly such that your estate may be able to avoid some of the costs associated with probate courts in the state. Just one of those costs involves the legal fees, which are set out by state law in California. Take a look below at what your family may wind up paying if you don’t take the basic steps necessary to plan your estate ahead of time:
- 4% of the first $100,000 of the gross value of the probate estate
- 3% of the next $100,000
- 2% of the next $800,000
- 1% of the next $9 million
- .5% of the next $15 million
- A reasonable amount (determined by the court) for any amounts higher than $25 million
These numbers may not mean much on the surface, but what this means is that if a person passes away with an estate worth $1 million, the probate services from an attorney would cost at least $23,000. That’s because the legal fees would total as follows:
- First $100,000 – $4,000
- Next $100,000 – $3,000
- Next $800,000 – $16,000
In addition, the value of the estate is viewed from the gross value of the assets. That means that, for instance, if the person who passes away owns a home that’s worth $800,000 but he or she still owes $400,000 on that property, the value of that asset in the probate estate would remain at $800,000. In effect, the debt on that property does not exist.
Typically, a probate attorney in Los Angeles charges the fee set out by statute, which means that it’s customary for a probate specialist attorney to be paid these fees from the estate before it’s settled. It’s worthwhile to at least find out if any of this could be avoided before it all comes to pass.
What to Do If Your Loved One Just Passed
We urge you to please give us a call. We offer the much-needed comfort of a simple explanation regarding what must be done immediately and what you can handle at a later date after you have had some grieving time and are feeling better from the tremendous loss of a loved one.
Some cases involve individuals who may have an interest in, or want to make a claim against, an estate. California probate law and related administration of the estate must be strategically handled—the help of an experienced probate attorney makes all the difference.
No situation like this is ever easy, as it obviously involves the death of a loved one. That’s difficult enough to handle for anyone, but having to go through the probate process, regardless of your position in that regard, is only going to add stress, time and expense to the entire process.
Not to mention, the lack of clarity in an estate with no plan or a less-than-detailed plan only opens the possibility of conflict between family members. This can be a devastating situation for everyone involved as well, and one that’s clearly best handled by a probate attorney in Los Angeles who understands the volatility of these circumstances.
Need help with any type of probate service? We have an excellent track record that can benefit you regarding all facets of probate laws in California. Probate attorney Alice Salvo is a Los Angeles estate administration lawyer with a reputation for being thorough and knowledgeable. Call or use our online contact form to schedule a meeting.