Many people arrange to avoid probate by adopting living trusts, titling property in joint tenancy with the right of survivorship, and gifting the maximum each year to as many loved ones as they wish. However, probate is not necessarily one big foreboding headache in California.
The unique aspects of probate in Covina include avoiding the prospect of using other estate planning methods. The most distinctive of all is that California considers the size of your estate and offers ways to administer it based on its complexity and whether you are the spouse of the deceased. Call Amity Law Group to speak with a skilled probate attorney for more information.
Understanding Formal Probate
When an estate is complicated, contested, and involves a lot of money, a personal representative will be appointed to conduct formal probate. This process is supervised closely by the probate judge associated with the Los Angeles County Superior Court.
The representative must file numerous petitions, an inventory of assets, a revised inventory if additional assets are discovered, and accountings for the judge. Petitions include a “Notice of Petition to Administer Estate” alerting the deceased’s creditors that they have four months to claim their debts.
The personal representative must identify, locate, and value all assets, often with oversight by a court-appointed appraiser for subjectively valued assets such as artwork and antiques. Some assets can be liquidated to satisfy creditors’ claims.
Formal probate can take years unless the deceased engaged in estate planning to make wishes clearly known. Often, beneficiaries and heirs squabble and may accuse the personal representative of mismanaging the procedure, which is why keeping them informed with the help of an attorney is essential. The court’s heavy involvement is also one of the unique aspects of formal probate that a Covina lawyer could help navigate.
No Summary or Ancillary Probate in the State
Many states offer “summary probate,” a simplified process for estates below a certain valuation threshold, and “ancillary probate,” which occurs when someone living in one state dies with property owned in another. If a Californian owns property in other states, a separate probate case must be opened in each one.
Simplified Processes for Spouses and Small Estates
Among the unique aspects of probate in Covina are two additional ways to circumvent formal probate. Both a “Spousal Property Petition” and an “Affidavit for Small Estates” can considerably simplify the probate process. When the deceased bequeaths property to a surviving spouse, that spouse can file a petition requesting the court to transfer asset ownership to them without going through formal probate.
The spouse must present evidence with the petition that proves the property legally belongs to them under California’s community property laws or that it is separate property intended for them. Once approved, the court will review the petition and issue an order to transfer the property to the spouse, which is a streamlined and less costly alternative to formal probate.
Estates valued below $184,500 can circumvent probate when a personal representative or beneficiary files an “Affidavit for Small Estates” to transfer assets directly to heirs or beneficiaries. The document details the extent and valuation of the assets, and an heir must explain why they are entitled to them. Small estates can include real estate, but the value cannot exceed the current cap. These simplified processes are distinctive elements of probate in Covina.
Call a Covina Attorney to Decipher the Unique Aspects of Probate in Your Case
All states conduct probate differently; some components are specific to each state. California does not offer summary or ancillary probate, but it does use streamlined procedures for surviving spouses and small estates, saving time and money over formal probate.
If you are a loved one’s beneficiary or are named a personal representative to settle an estate, you should consider setting a time for a strategy session with our knowledgeable estate planning attorneys. There are unique aspects of probate in Covina, and the better you understand how they affect your case, the smoother the process will be.
