Probate in California - San Mateo Probate Lawyer
Probate is a process by which the estate of a deceased person is verified, distributed and settled.
It is supervised by the court to ensure that the rights and wishes of the deceased are followed in
accordance with the law. In California, probate is required on most estates, whether there is a will
in force or not. Because probate can be a lengthy, involved and expensive process, many people
whether in Daly City, East Palo Alto, Foster City, Half Moon Bay, Hillsborough, Menlo Park,
Millbrae, Pacifica, Portola Valley, Redwood City, San Bruno, San Carlos, South San Francisco
and Woodside consult a San Mateo County probate attorney to discuss ways of avoiding
probate.
Probating a will can take anywhere from six months to years, though most estates are settled in
full within eight months. During those months, property that is a part of the estate may well be
frozen. The family of the deceased often has no access to important funds and accounts until the
estate is completely settled.
In addition to the time and inconvenience, a lengthy probate can be prohibitively expensive. The
executor and attorney for the estate are both entitled to a state regulated fee which can amount
to about $4,000 each on a $100,000 estate, and far more than that on a larger estate. When you
consider that even a modest estate consisting of a home, car, and furniture and can amount to
well over $250,000, the fees for the attorney and executor can easily reach nearly $10,000. There
may be additional fees if assets must be sold, creditors paid and tax matters attended to.
Those add up to some very good reasons for wanting to avoid probate. Doing so effectively
requires the assistance of a knowledgeable probate attorney, especially in light of the changing
laws with regard to estate taxes. A San Mateo County probate attorney can assist you in finding
ways to legally transfer and safeguard your estate so that your family gets the benefits that
you've worked hard to build.
Some of the most popular ways of avoiding probate are listed and described below. Keep in
mind that every situation is unique, and yours may have features that suggest one strategy over
another, or even a combination of strategies to make the best use of your assets and property,
both during your life and after your passing.
Living Trust
Living trusts are one of the most discussed options for avoiding probate, because they allow you
to maintain control and use of your assets throughout your life, even though they are being held
in trust for another.
Joint Accounts
Holding assets in joint tenancy is another possible way to avoid assets coming under the rule of
probate court. The usual provisions of joint tenancy allow for the passing of assets and property
held in joint tenancy to the other members of the joint tenancy. In other words, if you and a
partner hold a house as joint tenants, if either of you die, the other will inherit your share of the
joint tenancy.
Small Estates
There are a number of types of assets that are exempt from probate, including estates under
$100,000, automobiles, mobile homes and real property valued under $20,000.
For more information about avoiding probate, contact a local San Mateo probate attorney?
and arrange a consultation.
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