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By Simon Volkov
A California probate lawyer is essential when residents of the Golden State enter into estate planning strategies or are designated as a personal representative to settle a decedent’s estate. The process can be complex, especially if family disputes over inheritance arise. Lawyers can help representatives throughout the probate process or manage the estate on behalf of the family.
People require services of a California probate lawyer for many reasons. They can help clients execute a last will and testament; designate power of attorney rights; establish healthcare proxies; transfer estate assets into a trust; and implement strategies to keep estate assets from undergoing the probate process.
California probate code is the most complex in the nation. It consists of 11 divisions and comprised of hundreds of pages of rules and regulations. Few people can undergo the probate process without legal counsel.
In California, estates valued at less than $100,000 are exempt from probate. However, a legal Will must be in place and the estate must undergo a 45-day waiting period before inheritance property can be distributed to heirs and beneficiaries.
California probate code requires a personal representative to engage in estate settlement duties. Prior to distributing inheritance gifts the personal representative appears in court to provide evidence of estate settlement procedures. Upon completion, the representative distributes property according the directives of the decedent’s Will.
If anyone presents a claim against the estate, or if heirs contest the Will, the probate process is prolonged until litigation is completed. If a California resident dies without executing a Will, the estate is considered intestate and will require additional time to settle.
Probate lawyers can help individuals engage in estate planning strategies to minimize the probate process. They offer guidance to those who need to protect different types of assets such as business ownership, financial portfolios, copyrighted and trademarked material, and real estate holdings.
Personal representatives can hire law firms to provide guidance throughout the probate process or to manage California probate conservatorship.
Estate settlement duties vary based on the type of assets involved, estate value, and family dynamics. If the last Will is contested, probate can be prolonged for several months. Contesting a Will often causes excessive family turmoil and can quickly bankrupt small estates due to defense legal fees. Oftentimes, personal representatives are forced to sell inheritance gifts to cover legal expenses.
People often procrastinate about estate planning or believe they do not need to execute a last Will because they don’t own anything of substance. Dying without a Will leaves a heavy burden for family members and can be costly to the estate.
Engaging in estate planning is not difficult, nor expensive. It can be beneficial to consult with several California probate lawyers to determine which is best suited for your needs. This is particularly important if the law firm will be in charge of estate settlement duties.
Personal representatives that require estate settlement help may not have the luxury of interviewing multiple lawyers. However, it’s important to find an attorney that is compassionate, yet effective with time management. There is nothing more challenging than to work with an uncompassionate attorney while grieving the loss of a loved one.
The American Bar Association is a good place to locate a California probate lawyer. Although the ABA does not provide referrals they do publish a list of attorneys in good standing with the organization at abanet.org.
About the Author: Simon Volkov is a California real estate investor and probate liquidator. He provides a comprehensive probate and estate planning article library covering topics of how to hire a
California probate lawyer
, ways to avoid probate, and strategies to protect inheritance property at
SimonVolkov.com
.
Source:
isnare.com
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