Sirkin Law Trust Estate Probate Litigation Attorney

When Should I Get Limited Powers in a California Probate Case? San Fernando Valley Probate

In a California Probate case, there are many time where having limited powers may be useful.

Here are some examples of why limited powers may be used:

1. If you cannot get bonded for the full amount of the value of the property, limited powers are necessary.   This ensures that the real estate sale goes through court confirmation and that at the confirmation sale hearing, the judge can order the proceeds to a blocked account.
2. If you want to initially minimize the amount of the bond, but still want the power to sell, limited powers are useful.
3. Same is true of other types of real estate transactions in probate.

To discuss real estate sales in California probate, call Mina Sirkin, San Fernando Valley, California Probate Lawyer at 818.340.4479.  We are here to answer all of your probate questions about bonds and real estate sales.  Our office is located in Los Angeles County, Woodland Hills Ca.

Talk to us about when you should get limited powers in a California probate case.

Probate Attorney in Woodland Hills Addresses Common Probate Administration Problems

Probate Attorney Woodland Hills | Sirkin Law Group Probate | Call 818.340.447

As a probate attorney in Woodland Hills, Sirkin Law's attorneys address common probate administration problems on a daily basis. Woodland Hills residents may wonder what the probate process is like in Los Angeles from an attorney's point of view. 

"The most important thing you need to remember about probate is that Probate is a protective proceeding."

1.   The probate process insures that the court supervises the actions of an executor or administrator in the administration of the estate.  

2.  The Probate judge also overlooks the admission of wills and allows a forum for people to question authenticity, or validity of any will or codicil.  Sometimes, a will or codicil cannot be admitted, if it was the result of undue influence, fraud or lack of capacity of the decedent.   The probate process allows for relatives to voice their concerns and objections to a will or codicil via a will contest.

3.   It insures that creditors' rights are protected, and assigns deadlines for creditors to file a claim.

4.   Probate provides a method of transfer of title to property of a decedent.   The final order of the court distributing a property to a particular person, is the equivalent of a deed.

5.   Probate court assign a timeline for an accounting for the executor or administrator, and a time for distribution of the assets of the estate.

How do you file probate in Los Angeles?

The process in Los Angeles begins with appointing an executor or administrator via by filing a Petition for Probate with the Central Court (Downtown). The petition requires that a notice be published in the local newspaper where the decedent resided.   The purpose for the publication and notice requirements is to make sure that any relatives find out about the probate filing, have an opportunity to object, and that creditors can come forward to to file a claim to collect any money due them by the decedent.

Unless there is a will that waives bond, or the court at its discretion waives the bond, the Court requires that an administrator/ executor post a bond. Sometimes, administrators cannot get bonded due to bad creditor, or prior bankruptcies or other reasons.    If a bond is ordered but it it is not posted, the executor/ administrator cannot get appointed unless an alternative method is used.  Bond waivers are getting more rare in Los Angeles and require a personal appearance by the administrator or executor, to request one.

The alternatives to a bond are as follows: A blocked account, or appointment of another person, such as a private professional fiduciary, or a trust company as administrator.

Do you have disagreements regarding certain issues in probate?

While there are many times where there are disputes regarding actions of an executor or administrator, there are great also opportunities for settlement of cases in probate via mediation.    The least expensive way of settling a probate dispute is by mediation.   

Common Probate Problems in Woodland Hills:

Some common problems in probate are:

1.  Death without a will: Intestate succession rules.
2.  Death with a lost will.
3.  Post-Death Contests of the will;
4.  Pretermitted or omitted spouse share challenges;
5.  Disputes about community property transfers by the decedent.
6.  Disputes about whether a property is owned by the decedent or other third parties.   All of the above can delay probate and the distribution of the estate assets.   Call our probate attorney for help.

 

Why hire us?

Mina Sirkin is a nationally recognized probate attorney and has served as a media expert to CNN, MSNBC, Inside Edition, NPR and KTLA regarding probate and estate matters.  She is Certified as a Specialist by the Board of Legal Specialization of the State Bar of California, in Probate, Estate Planning and Trust Law.   Mina Sirkin is rated 10/10 on Avvo.  Sirkin Law Group's Probate Offices are located in Los Angeles, Woodland Hills, Glendale and Pasadena.  Call: 818.340.4479.  http://WoodlandHillsProbate.com.  Ask us about Problems in Probate Administration in Woodland Hills.

 

Mina Sirkin, Probate Specialist Attorney

818.340.4479

[email protected]

Inheritances and Retirement Accounts

If you are married to a person who is a participant in a retirement account or plan, you have to protect yourself and your children by paying close attention to several things on this checklist.  By "retirement account", I mean, 401k, 403b, 457, IRA, Roth IRA, Stock Option Plans, Stock Purchase Plans, Keogh and any other qualified plan under ERISA.

1.   Check and verify beneficiary designations on the retirement account every 3-4 years.  Request copies of the signed beneficiary designation forms from the plan or company.   Keep a file for the beneficiary designation forms.

2.   Be sure that the employee's spouse is the named primary beneficiary.   If you don't name a beneficiary, the PLAN document governs who gets the benefits.   This may not always be your Estate, and you certainly do not want the employer to have to litigate or interplead the funds in court which can cost a lot of money. 

3.   Be sure minors are not designated as alternate beneficiaries.   Consult a local attorney who can guide you as to creating a trust for your minor children.

4.   If you want to name a minor as a contingent beneficiary, be sure to name a trustee of a trust for the benefit of the minor.   Never name a special needs child as a beneficiary or a contingent beneficiary of a retirement plan.   If you want to benefit a special needs child, go to an attorney and create a special needs trust and then name the special needs trust as a beneficiary.

5.   Never sign a beneficiary change form changing the primary beneficiary from the spouse to someone else BEFORE you get advice from a lawyer.

6.   If you are divorcing, you MUST talk to your divorce lawyer about a QDRO and insert protective provisions which go beyond retirement and extend to death of the participant.   If your spouse was previously divorced, you must review the prior divorce order, including any prior QDRO to insure that the current retirement benefits do not go to the former spouse.   QDRO orders which do not name specific retirement plan options can lead to major litigation after death which can be avoided by amending the QDRO after a new marriage, for specific items.

7.   Don't opt for the company life insurance.  Company life insurances are generally NOT portable.  If you change your employer, you will lose that life insurance.   You would be better-off buying a private term life insurance policy which you can keep even after you leave your employer.   If you are going to opt-in to the company's life insurance, you need to have a separate beneficiary form for this item.

Mina N. Sirkin is a Family Wealth Lawyer and a TV Legal Expert in Los Angeles, California.  Ms. Sirkin is a Board Certified Specialist in Estate Planning, Probate and Trust Law by the State Bar of California.  [email protected] and http://www.SirkinLaw.com.   Financial blog at: http://www.MomsRules.com.

Copyright 2008 Mina N. Sirkin.  All rights reserved.  Los Angeles Probate Attorneys.