Probate is the formal legal process for administering someone’s estate after they pass away. Whether or not you have a will, California courts still require estate administration. You might not be familiar with all that’s involved, but understanding how probate works can make things easier for you and your loved ones.
This means if you have not appointed a personal representative or executor in your estate, then one will be appointed for you to identify your assets, catalog and manage them, and then use them to pay debts or to distribute to beneficiaries. Many people avoid creating a will for various reasons, but this can prove problematic when probate occurs. There are many reasons worth avoiding probate, and most people underestimate the expense and the time involved.
A USA Today article covered how little awareness most Americans have around what is required to carry out probate. That research found that over half of Americans have no clue on what probate costs, and that less than half of the population understands that inheritance is not automatic. Only 2% of respondents in that study were aware of how long it takes to settle the average estate.
By taking proactive steps with a Pasadena estate planning lawyer, you can reduce the time, expense, or even frustration involved in having your loved ones carry out your estate administration. Contact our law firm today to help guide you through this process.
