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The Probate Process

by on 25 June 2015in Probate

An Overview

“Probate” is the court supervised process for the administration of a decedent’s estate. Currently in California, the process is required for decedents’ estates which exceed $150,000 in value, or does not pass outright to a surviving spouse. The purpose of the administration of an estate is to ultimately pass good title to property to the rightful recipient. It serves to ensure that the decedent’s desires as stated in his or her last valid Will are carried out and it protects certain creditors. If the decedent had no Will, the laws of intestacy govern. California law provides an orderly procedure to accomplish all of these

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Trust Administration

by on 25 June 2015in Trust Administration

Overview of Basic Trust Administration for Successor Trustee
Your primary duties as Trustee is to collect the trust assets, pay last illness and funeral expenses, just debts of the Settlor, and then distribute the assets in accordance with the trust provisions.

Depending on the nature and extent of the assets, sales of assets may be necessary or appropriate, as well as maintaining insurance on the Trust assets until distribution.
Main Legal Requirements:

If you are the named Executor under the Will, see that the original Will is delivered (lodged) with the clerk of the Superior Court of the County of residence at time of death.This is supposed to be

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6 Things You Need to Know About Estate Planning

by on 2 April 2015in Estate Planning

What is “Estate Planning”?

Essentially, an “estate plan” is your blueprint for what you want to happen to your property when you are deceased. But it is also much more than that; it is the process of putting your personal and financial affairs in order in contemplation of various life events. Estate planning is the creation of one or more legal documents that ensure that an individual’s wishes and goals will be carried out at the time of his or her death or incapacity or both. The goal is to maximize the enjoyment of your estate during your lifetime while providing a plan for

 

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