The probate process can be complex and emotionally charged, so it’s important to have an experienced and reliable asset attorney to guide you through the process. Since the laws for probate vary by county, it is crucial to hire a Placentia probate lawyer so your hard-earned assets are distributed to their rightful beneficiaries.

What Is Probate in California?

Probate is the legal term for the process of distributing a deceased person’s estate, including all assets and property, to their appropriate beneficiaries. During the probate process, an asset attorney, an executor, the beneficiaries, and the court work together to administer the estate according to the deceased’s wishes. There are many legal implications involved in the probate process, which is why hiring an attorney can be very beneficial.

The Probate Process

The probate process is handled by the executor of the deceased person’s estate. An executor is the person named in a deceased person’s will to distribute their assets. If no executor is named in a will, the court will appoint an administrator to handle all paperwork. This is typically the primary beneficiary or next of kin. The steps of the probate process are as follows:

• Drafting the will and determining the executor. If there is no will, a lawyer can help you draft one. If a will exists, it should name the executor of the estate. The executor hires a probate lawyer to prepare and file a Petition for Probate with their local probate court.
• Notifying loved ones and the public. The next step is notifying both loved ones and the public. Hiring a compassionate lawyer can be helpful in such an emotional situation. The deceased person’s death should also be published in the newspaper so creditors are aware. The lawyer notifies all parties of the probate hearing.
• The probate hearing. At the probate hearing, the validity of the will is determined. If the will is valid, the court officially appoints the personal representative or executor of the estate outlined in the will.
• Managing the assets. The executor identifies, takes possession of, and manages the estate’s assets. Examples of assets include real estate, bank accounts, automobiles, investments, and so on. The executor should also have the property professionally appraised to ensure the beneficiaries receive fair value.
• Paying taxes and debts. Sometimes, the deceased person owes taxes or has outstanding debts. The executor pays any taxes or debts that the deceased person owes before distributing property and other assets. In some cases, the executor must sell assets to pay outstanding debts or taxes.
• Distributing the assets. Once debts and taxes are paid, the executor can distribute what remains of the property as the will directs. If there is no will or directive, the court determines the distribution of property. This is an important step for anyone who wants their specific wishes fulfilled once they pass on.
• Close the estate. The estate is formally closed once assets are distributed accordingly. Having a lawyer help you close the estate can help you in the long run.

Considering the number of steps, this process can be timely and requires a considerable amount of paperwork to be filed. Ignoring one step can stall the process and may result in the court determining how your assets are distributed. An experienced and knowledgeable lawyer from Sweeney Probate Law can relieve your stress and walk you through the process.

Is Probate Necessary for Me?

Probate is not necessary in every case. For example, individuals who have smaller estates, meaning they do not own much property, or those who have trusts will likely not need to go through probate. If you have a large, complex estate, outstanding debts, or owe taxes, probate may be unavoidable. Speak with a Placentia probate lawyer to determine if your estate must go through probate.

The biggest factor in determining if your estate must go through probate is the value of your assets. In California, if your property value or your assets are over the threshold of $184,500, you will likely have to go through probate. Be sure to have your property valued and come prepared with all documentation before meeting with your lawyer.

The Length of Time Probate Takes

The length of time for probate in California varies. In Placentia, the executor has a year from the date of appointment to complete probate; however, if they file a federal estate tax, this time may be extended. If there are complications in the process, the executor should put it in writing to extend the timeframe.

How Much Does Probate Cost in California?

In California, the cost of probate is set by law as a percentage of the estate. There are also fees involved, which should be factored into the total cost. Some of the costs and fees are appraisal costs, executor fees, court costs, and legal and accounting fees. It is important to note not all probate processes go smoothly. If a loved one contests the will, for instance, costly and time-consuming litigation may ensue.

The Importance of Hiring an Attorney

Everyone deserves to have their wishes fulfilled when they die. It is not ideal to have your hard-earned assets distributed to anyone other than those listed in your will or for a court to make personal decisions for you. Hiring an attorney can help to ensure your wishes are fulfilled, even when you’re no longer here.

Taxes and Other Considerations

Taxes play a significant role in the probate process. While many people pay their taxes on time, death can be unexpected, leaving some taxes left unpaid. Be sure your executor is capable of taking care of this for you. An asset attorney can also help with this process. Additionally, your lawyer can mediate disagreements amongst your loved ones and help your executor avoid mistakes and meet deadlines.

Hire a Placentia Probate Lawyer Today

While complicated, the probate process ensures your final wishes are fulfilled upon your passing. Therefore, it is important to understand the probate process and whether your estate must go through probate. At Sweeney Probate Law, we have years of experience handling probate cases and can see you through each step with wisdom. You and your loved ones are important to us. Contact us today for a consultation.