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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 Laguna Niguel, 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 a typical 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 will has to be proven to be 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 Attorney Fees
The state of California determines probate attorney fee commissions based on the estate’s total value. The statutory fees for attorneys and executors in California’s probate cases are 4% on the initial $100,000 and 3% on the subsequent $100,000. Importantly, the probate fees are the estate’s responsibility and do not require any upfront payment or obligation from the executor or administrator.
Estate Planning With a Probate Attorney Newport Beach CA
Your loved ones will be responsible for handling your affairs. Implementing an estate plan significantly eases this process for them. Moreover, probate, the legal procedure for settling assets, can be financially burdensome and may potentially cause conflicts within your family. Disagreements among family members regarding specific terms can be particularly problematic. During an already challenging period, it is important to avoid pitting family members against each other. By proactively planning everything in advance, you ensure a harmonious process for your loved ones.
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.
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 obtain access to this substantial amount of private financial information. All it takes is going to the courthouse where the will is filed, paying a small fee, and receiving a copy of the will.
When to Update Your Estate Plan With a Probate Attorney in Laguna Niguel, 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.
FAQ
What are non-probate assets in California?
Non-probate assets are transferred immediately to the beneficiaries upon the decedent’s death. According to California probate law, any asset that is not solely owned by the deceased is considered non-probate property. Life insurance policies, retirement benefits, and any jointly shared or co-owned assets are examples of non-probate assets.
What is the amount I can inherit and avoid probate in California?
You may inherit $166,250 or less and avoid probate in California.
How long does probate take in Orange County, CA?
Typically, the probate process will take about 18 months to 2 years. However, an estate that has complications could take far longer.
Who appoints the executor/administrator?
In most wills, the person assigns an executor. However, if there is no will, the court appoints an administrator.
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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 Mission Viejo and San Clemente.