A Quick Guide To Probate Laws In Burbank, California
Probate can be perplexing and challenging to grasp. You won't be able to avoid it in most estate law issues. But, given the stakes involved in the probate of properties and assets, going in blind would put you at a disadvantage.
Let's start with the most common questions our pre-screened Burbank Estate Law Attorneys are asking concerning California Probate Laws.
How Much Time Does It Take To Get A Will?
According to California law, a will executor or other representative of the deceased must finish the probate procedure within one year of their appointment (typically months after the date of death) or formally explain their inability to the court.
The process might take anywhere from 18 to 24 months, depending on how busy the courts are or if an error is made along the route.
A Burbank Estate Law Attorney can help you organize and compile important papers while also reminding you of important dates.
How Much Do You Pay For Probate In Burbank, California?
The probate process includes court fees, executor's fees, property assessment fees, pricing for certified copies of documents, accounting fees, and legal fees.
If a Will is challenged or beneficiaries disagree with the distribution in any way, the expenses will almost certainly be far higher, and the process could take years.
Is it Really Necessary for Me to Go Through Probate?
It's a popular misconception that all you need is a Will to claim your inheritance. But, unfortunately, a "Last Will & Testament" does not protect you from having to go through probate in California.
Instead, think of a Will as a document that informs a probate judge about the deceased's wishes. You present your Will to a court at probate, and the judge decides what happens next.
Inquire about the legal actions you'll need to do with your Burbank Estate Law Attorney.
Which Assets in an Estate Aren't Subject to Probate?
Some assets are subject to probate court distribution, while others are not. To begin with, any assets placed in a Living Trust before death will not be subject to probate court; instead, the new Trustee will distribute them according to the Trust's rules.
Similarly, because life insurance benefits are made directly to beneficiaries, they are not subject to probate. Without going through probate, assets held in banks and investment organizations with correctly declared Payable on Death (POD) or Transfer on Death (TOD) beneficiaries can be transferred immediately to those beneficiaries. Even if probate is required, the majority of retirement resources are transferred this way, utilizing non-probate PODs.
Of course, the surviving spouse can claim any jointly owned property without having to go through probate. However, assets that are not jointly owned are a different situation, and probate will very certainly be required.
Whether there is a will or not, any assets that are not covered by one of the scenarios listed above must go via Probate Court. For example, your loved one may have established a Living Trust but failed to re-title their home to the Trust. They could potentially have listed PODs incorrectly on an investing account.
For more information, contact your Burbank Estate Lawyer. They'll know exactly what to do and how to approach your issue in the most beneficial way for you.
Find An California Estate Lawyer in Burbank
1000Attorneys.com is Certified by the California Bar Association to provide you with a Free Attorney Referral Service.
We can refer you to an experienced pre-screened Estate Lawyer in California best fit to handle your case. Contact us through our 24/7 live chat (or complete our case submission form) for a free initial consultation.
