Business & Finance Renting & Real Estate

Working With a California Probate Attorney to Protect Estate Assets

Hiring a California probate attorney can ease burdens of estate settlement proceedings for those residing in the Golden State. California has some of the most complex probate laws in the country. Residents are often confused about how to settle probated estates and usually require help from lawyers.

A California probate attorney can assist in implementing estate planning strategies to protect assets from undergoing probate. They can also help with estate settlement procedures or manage probated estates on behalf of decedents' families.

According to California probate laws, decedent's last will and testament must be validated through probate court. Additionally, estate administrators designated within the Will or appointed through court must obtain confirmation to act as the estate fiduciary.

When a person dies without executing a legal Will the probate process is suspended until a personal representative is confirmed and death certificate is validated. Under California probate law, no one can commence with estate settlement until confirmation is obtained. If a person does engage in settlement practices without confirmation they could be held liable and face steep fines.

In most instances, personal representatives are the surviving spouse or family member. However, if family strife is prevalent it can be beneficial to hire a probate attorney to settle the estate. Lawyers are typically more capable of negotiating with disgruntled heirs to prevent having the Will contested. If heirs do contest the Will it is crucial to retain a lawyer to protect estate assets.

In instances where a family member has disassociated from the family it is possible to disinherit them from the Will. However, disinheritance must be stated within the last Will using a disinheritance clause. If this is not included, heirs can claim they were unintentionally left out of the Will and can potentially lay claim to inheritance property.

When family members get along and little chance of contesting the Will is present, the personal representative can manage the bulk of estate settlement duties. Settlement procedures vary depending on estate value, type of inheritance property, number of heirs and beneficiaries, and estate planning strategies implemented.

In California, estates valued below $100,000 might be exempt from probate as long as a legal Will was executed. A mandatory 45-day waiting period is required, but this time constraint is considerably better than the 4 to 6 month probate process.

Inheritance gifts bequeathed through the Will cannot be distributed until all stages of estate settlement are completed. This includes: paying debts owed by the decedent; securing owned property and obtaining appraisals; filing legal documents for transfer of financial assets and life insurance proceeds; filing property transfer documents; and filing a final tax return for the decedent.

Once heirs receive inheritance gifts they are required to sign an acknowledgment form which is presented to the court. A judge must validate estate management procedures before the estate is closed and personal representatives released from administration duties.

Anyone aged 18 and older and residing in the Golden State should consult with a California probate attorney to execute a last will and testament or setup a trust. Without a Will, estate assets are distributed to heirs according to state probate law.

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