Trust vs. Estate — most people don’t realize how much this one distinction determines whether a California property transfers in weeks or gets tied up in court for a year or more
An affidavit of death is a sworn legal statement used to formally declare that a person has died. It’s typically signed by someone with personal knowledge of the death—such as a family member, executor, or trustee.
Probate referees are individuals appointed by the California State Controller as an officer of the court to appraise and determine the value of assets in an estate when someone passes away. This ensures that the assets are properly evaluated for tax purposes and equitable distribution among heirs. Probate referees are impartial and independent professionals with expertise in appraising various types of assets like real estate, stocks, bonds, and personal property. Purpose of a Probate Referee: Ensuring Accurate Asset Valuation The primary duty of a probate referee is to appraise and […]
California land trusts let property owners transfer real estate to a trustee for privacy, asset protection, and easier estate planning — without giving up the right to use or benefit from the property.
Probate is the legal process of administering a deceased person’s estate. It involves identifying and gathering the assets of the deceased person, paying any debts or taxes owed by the estate, and distributing the remaining assets to the heirs or beneficiaries. In General:Probate typically begins with the filing of a petition in the probate court, usually in the county where the deceased person lived. The court will then appoint an executor or administrator to manage the estate. If the deceased person had a will, the court will generally appoint the […]
Bank account beneficiary rules govern the designation of individuals or entities who will receive the funds in a bank account upon the account holder’s death. The specific rules and procedures can vary depending on the jurisdiction and the type of bank account involved. Trust Account:A type of bank account held within a living trust, also known as a revocable trust or inter vivos trust. The account is established in the name of the trust, and the trustee has the authority to manage and control the funds in the account on […]
Community property is the rule of the land in California, and it controls what you can actually leave in a will or trust. Here’s how §760, separate property, commingling, transmutation, and death shape your estate plan.
In simplified terms, probate is the legal process of settling the financial affairs of a deceased individual after they die via court supervision; i.e. the distribution of their assets and payment of their debts. On average, probate in California takes about twelve to eighteen months. However, if problems arise, the process can much longer. The Will:Often, this entire process pivots on the existence of a Will, if it can be located, its contents, and its validity will dictate the parties and actions to be taken. In short, a Will is […]
Wills and Trust are often confused, but they work very differently under California law. Here’s the real difference between a Will, a Pour-over Will, and Revocable and Irrevocable Trusts — and what each one means for probate and your estate.
Although many have heard the term, it is important to understand what a power of attorney is. A power of attorney is important and comes in many different forms as part of estate planning. Understanding the limitations of each and how power of attorney best fits your needs now and in the future is vital. Defined: The California Probate Code Section sets forth the different types and limitations of a power of attorney. At its core, a Power of Attorney allows you to appoint an “attorney-in-fact” or agent, to act […]
