Probate in California - Irvine Probate Lawyer
Probate is a legal process which is designed to validate a will, and then determine whether a deceased estate must pay debts or taxes (including income tax or federal estate taxes). The main purpose of probate is simply to ensure that any debts of the deceased are paid by their estate. In California, probate usually lasts anywhere between six and twelve months; however the process can last several years if the estate is very large or complicated.
In the state of California, any estate worth more than $100,000 must be probated. When calculating the value of the estate, only assets owned by the deceased are included. The following assets do not figure in this calculation:
1. Assets jointly owned or held in a living trust;
2. Life insurance or IRA benefits where another person is the beneficiary;
3. Any assets which pass to a surviving spouse;
4. Assets for which the deceased was a trustee; and
5. Any assets designated by a married couple as "community property with right of survivorship".
If probate is determined to be necessary, the executor of the estate can hire a probate lawyer to manage the legal aspects of probate. This is generally advised, because probate can take several months or more to be complete, and it can be a highly technical process which is difficult for a layperson to manage.
Because probate occurs in the Superior Court of county where the deceased lived, hiring a local lawyer is advised. If the deceased lived in Irvine, an Irvine probate lawyer will be of the most use.
What is the Irvine Probate Attorney responsible for?
A probate lawyer can carry out many of the tasks which are the responsibility of the executor of an estate. This is the best way of ensuring that probate is completed without significant delay, as there are several tasks to perform and deadlines to meet.
The Irvine probate lawyer begins by filing a motion to begin probate at the Superior Court. Following this, a hearing schedule is set. At each hearing, certain tasks are completed and documents are filed relating to the value of the estate and any debts and taxes that are owed. While probate is in process, the lawyer will also work with the executor in having the estate appraised and inventoried. Once probate is completed, the executor can distribute the estate according to the terms of the will, or according to California estate law if no will was left.
