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Probate Administration is the process of transferring the legal title from the estate of a deceased person to his or her appointed beneficiaries. The term "probate" means "proving" who one's legal beneficiaries are in a valid will or determining who one's legal beneficiaries are if there is no will. In other words, probate is the process that determines who gets the deceased person's property. If a person dies without a will, or intestate, the probate court appoints someone to receive all claims, pay creditors and distribute property.
Probate is the legal process of determining the value and transferring the title of assets and property from the deceased to his or her beneficiaries. Probate is the process of determining who the rightful and legal beneficiaries are of a deceased person's estate. If there is a valid will, the probate process will verify the legal beneficiaries before assets are distributed. If there is no will, the probate court will determine who the legal beneficiaries are. The probate court will also appoint someone to distribute the assets and properties, pay creditors, and receive claims.
Probate court can be a costly and lengthy process. Often times probate can take one to two years. The fees are set by California's Probate Code. Many factors can influence the length of the process, including the size of the estate, where it takes place, debts or creditors involved, disputes from the beneficiaries or objections to the will. If there is no will, the probate process becomes even more challenging. The state will be the one deciding who the beneficiaries are and what assets they will receive. If any assets are in a living trust, they are considered exempt from going through the probate process.
Probate can be costly and it can be a lengthy process. The size of the estate, where it is taking place, the creditors involved and objections to the will can change the length of the probate process. If there is no will, the probate process becomes more complicated. The state then decides who the beneficiaries will be and what assets the will be allocated to them. Some assets do not go through probate and are considered exempt, such as assets that are in living trust. People often try to avoid probate because of costs, time and stress.
Most people try to avoid going through probate because it can be so costly, time consuming and stressful. It can cause emotions to run high and disputes or arguments to occur amongst family members. This is why it is important to talk to a probate lawyer. An experienced attorney can help ensure no mistakes are made through this formal procedure, and can help you keep probate costs down. A probate lawyer can ensure the six basic steps of the California Probate process are completed :
You may be able to go through a simplified probate procedure if there are no debts against the estate. A probate lawyer will advise you on the best course of action to take according to your particular situation.
Probate is a formal procedure and a simple mistake such as missing a deadline or failing to send a copy of the petition to a family member can be costly. Also, the death of a family member or close friend tends to create bickering and arguments among people. Emotions come into play and small matters can get upsetting. Having a lawyer handle probate is typically common. A probate lawyer can discuss if simplified procedures are appropriate or if going through a regular probate process, when there are debts against the estate, is the right way to go.
If you would like more information on probate and estate administration and how to avoid costly probates, seek the advice of a professional probate lawyer. Call Attorney Search Network today for a probate lawyer referral.
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