Probate is a broad term to describe the formal legal process for closing out someone’s estate administration after they pass away. Probate may vary in terms of complexity and length of time required based on multiple factors. In general, however, probate administration refers to four potential stages or issues that may occur. 8.
The first is the opening of probate, which involves the locating, securing, and valuing of any estate assets. This process should begin as soon as possible after someone passes away and their will may name a personal representative to spearhead this process or the California courts may appoint someone in this role. The second phase of this process is notifying creditors that the probate process is underway. The personal representative has a fiduciary duty to review all claims that were submitted and to ensure that these claims and any unpaid taxes are addressed before distributing any remaining assets to the beneficiaries.
The third possible phase of probate administration in California is litigation. This does not apply in every case but may occur if someone challenges the will or the validity of any other estate documents such as a trust. Finally, federal estate and gift taxes must be calculated as paid and a state tax return must also be submitted.
It is strongly recommended that you hire an experienced Pasadena probate lawyer to help you draft your own estate plan. Working with a qualified attorney is one of the best ways to minimize possible risks and challenges.
