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Probate & Business – Estate Planning – Trust Litigation – Inheritance Disputes – Product Liability – Trust Administration – Tax Planning
We recognize that the probate process is a difficult time for many. However, a probate attorney takes some stress off by ensuring the probate process is efficient and effective. Our attorneys work diligently to help minimize the risk of litigation by ensuring that all legal requirements are met and that the distribution of assets and property is handled with transparency. Contact us today to speak with a probate attorney Orange County, CA, residents trust.
About the Probate Process
Probate is a legal process that occurs after someone dies. It’s a court proceeding that is time-consuming, complicated, and costly. However, it’s required to appoint legal title to assets at death. During probate, the court oversees the distribution of a deceased person’s assets. The process usually starts with submitting a will and a court form to the county probate court. Sometimes the court has to prove the will is valid. Once the court determines the final will, the court appoints an executor. The executor then ensures the decedent’s debts and taxes are paid. The executor then gathers the decedent’s remaining assets to distribute to the beneficiaries. In some cases, probate is filed to resolve disputes among the beneficiaries. Typical probate in Southern California usually takes a couple of years to complete.
Probate Cost
Law Stein Anderson has extensive experience in handling probates. We have a team of attorneys and paralegals who are efficient with each step of the probate process. We’ve probated large estates worth hundreds of millions of dollars and small estates that have just a single asset. You should be aware that probate is expensive. The executor and the lawyer receive a statutory fee that is based on a percentage of the estate. Law Stein Anderson has an online probate fee calculator to help you understand the costs. For example, the fees for probating a million-dollar asset such as a house would be about $46,000.
Estate Planning With a Probate Attorney in Orange County, CA
There are many benefits of having a probate attorney in Newport Beach CA. A probate attorney prevents personal liability to the executor. Furthermore, probate attorneys minimize stress and disputes among family members. The probate court process can be lengthy, but hiring an attorney helps speed it up.
Your loved ones will have to settle your affairs after you are gone. An estate plan makes this process much less difficult for them. Furthermore, settling assets in probate can become costly. Unfortunately, it can also lead to strife in your family. This is especially true if family members disagree on specific terms. During an already difficult time, family members mustn’t be pitted against one other while settling affairs. Having everything preemptively planned for them will keep things straightforward and peaceful.
Estate planning also reduces taxes on what you leave behind. A qualified estate plan professional can advise you on utilizing giving tactics and setting up trusts. Furthermore, experienced estate planning services provide a host of knowledgeable tips to help you decrease the tax burden your loved ones will have to face otherwise. Even just a bit of planning can significantly reduce inheritance tax.
Did You Know?
In California, probate proceedings are public. These records must be accessible in case someone did not receive what the estate owed them. For example, a creditor may not have been paid and can view probate records.
All of the information in the will is public. Anyone can quickly obtain access to this substantial amount of private financial information. They can go to the courthouse, pay a small fee, and receive a copy of the will.
When to Update Your Estate Plan With a Probate Attorney in Orange County, CA
It’s essential to review and potentially update your estate plan every couple of years. Specifically, update your plan if your relationships have changed with any members included in it. Furthermore, be aware of market changes because this can be a great time to save on taxes. In times of market volatility, our estate tax planning attorneys can use strategies that enable you to mitigate gift and estate taxes.
Estate planning may be a challenging topic for you and your family to think about. However, effective estate planning with professionals here at Law Stein Anderson will help ensure that your family gets the total value of your estate.
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SOUTHERN CALIFORNIA ATTORNEYS
We are an industry-leading estate, trust, and probate attorney serving clients in Newport Beach, CA and surrounding communities within Orange County, including Irvine and Laguna Beach.
We are an industry-leading estate, trust, and probate attorney serving clients in Irvine, CA, and surrounding communities within Orange County, including Newport Beach and Laguna Beach.