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The following article was published in our article directory on September 16, 2013.
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Article Category: Legal
Author Name: Mortensen Law Office
Probate is basically the process that determines the estate of a person when he dies. This procedure also involves the distribution of that person's assets to his beneficiaries and heirs.
Under the California law, an executor should be named in order to administer the estate until it is distributed to the heirs and beneficiaries. Such administration happens in the county in which the decedent lived at the time of his death.
Also, the law states that a judge will be allowed to select an executor from a list of relatives or applicants appointed by the court if an executor is not named in the will of the decedent or there is no will at all.
The Probate procedure will start upon the filing of a petition and when the court asks a judge to determine an executor. This petition is usually filed by the executor named in the will. It encompasses contains data regarding the executor as well as the decedent and his heirs.
Then again, before an executor is determined, all parties who are involved have a chance to voice out their objections. This could have a vast impact on the determination of the executor. Nonetheless, the final decision still rests with the judge who is on the case.
Also, the California law also requires all parties to acquire a notice that states that the estate is on the probate procedure. This notice should also include a comprehensive list of planned beneficiaries, probable beneficiaries, and the time and date of hearing to determine the executor of the estate.
After an executor has been determined, it would be his responsibility to gather all the assets of the decedent and make an inventory. He should also have the estate of the decedent appraised, pay his debts, file taxes, and distribute the assets to the beneficiaries and heirs.
It should be noted that probate is not free of charge in California. A probate lawyer is necessary in order for things to be organized and executed properly. An attorney should be hired to help all interested parties.
How much the estate costs will determine the price of the probate. For instance, an estate that is worth a hundred thousand dollars will need an administration fee of at least four thousand dollars. This fee will be used to compensate the executor for his administration of the estate.
Probate Attorneys, P.C.
22807 Lyons Avenue
Newhall, CA 91321
www.mortensenlaw.com
Keywords: Attorney, California law, Tax law, Trust lawyer, Probate lawyer, Mortensen Law, Medicare, Attorney
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