The probate process is not free by any means. There are innumerable expenses that could present themselves, including the executor's fee, legal costs, accounting charges, appraisal expenses, court costs, and liquidation charges. When you add in miscellaneous expenses, the value of the estate can be shaved down considerably during probate. The money spent during probate is essentially coming out of the pockets of the inheritors.Topics covered in this report include:Further … [Read more...]
How Long Does the Probate Process Take in California?
Distribution of your estate is an important facet to understand when you are devising your estate plan. You create documents to state your final wishes, but human action is required to bring your wishes to fruition after you pass away. In many cases, the probate process will enter the picture.Certain types of asset transfers are subject to the probate process, and others are not. Probate property could be described as property that is in your direct, sole personal possession at the time of … [Read more...]
What Are the Drawbacks of Probate in California?
The process of probate in California is a factor to consider when you are planning your estate. To understand the process of estate planning, you have to know a bit about probate. This is a legal process that can enter the equation after you pass away.Most people assume that they should use a last will as a vehicle of asset transfer. This is certainly a possibility, but you should be aware of the fact that the will would be admitted to probate after your passing.(A caveat would be that small … [Read more...]
Is Probate Always Required In California?
The probate process is something that you should be aware of when you are devising your estate plan in California. This is a legal process, and it comes into play when a person has property their your direct personal possession at the time of their passing.Property that is considered to be probate property would not be distributed to the heirs until the estate was probated and closed by the court. Because this process can be time-consuming and expensive, people sometimes implement probate … [Read more...]
