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What are the California Probate Guidelines? Los Angeles Ca Efficient Transfer of Assets after Death

Los Angeles Probate Lawyer, Mina Sirkin advises clients regarding probate guidelines in California and the efficient transfer of assets after death in Los Angeles. See the California Probate Guide here for probate steps and guidelines.

Transfer of a deceased person's assets can occur in several different manners:  1) By Probate Administration in court; 2) By Trust Administration; or 3) By passing by Contract/joint tenancy or Beneficiary Designation. Each method has different guidelines and rules.  The last two methods are the most efficient ways of transferring assets of a deceased person.

Probate is a court proceeding that is set up to insures that notice is given to the appropriate heirs, family members, and that creditors of the decedent are adequately protected before assets of the decedent are distributed.  

Distribution of assets of a deceased person is then done either according to instructions in a will, or by California's intestacy rules, if there is no will.   Intestacy is the the default way California distributes the assets of a person who died without a will.

How long does it take for probate in California? Probate is a time-consuming process and in most cases can be avoided, if there is a living trust.   A nice probate in California can take about a year.   If there is any litigation involved in probate, it may take two years or longer to settle the estate.

A shorter way to distribute the assets of a decedent, would be if he/she had a trust.   Trust Administration is similar to probate administration, except that it generally does not involve the courts, unless there is litigation or questions regarding the rights of beneficiaries or duties of the trustee.   In trusts as well, Creditors are also given notice during the trust administration period and are afforded rights to file claims.   Trust distributions are done informally and simply by notice to the potential beneficiaries who can review an informal accounting.

For information on Los Angeles Probate requirements, contact Mina Sirkin, Los Angeles Probate Lawyer.  Ms. Sirkin is Certified as a Specialist lawyer in Estate Planning, Probate and Trust Law, in Los Angeles County, California.  818-340-4479. http://www.SirkinLaw.com/attorneys.html.

LOS ANGELES PROBATE

Mina Sirkin

SIRKINLAW.COM ®

818.340.4479

PROBATE SPECIALIST ATTORNEY

LOS ANGELES

 

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Sirkin Law Group's probate attorneys and lawyer regularly serve the following cities and areas in Los Angeles County, Ventura County, Orange County, Santa Barbara County. San Fernando Valley; Bell Canyon,Woodland Hills Calabasas Conservatorship & Elder Law, Complex Conservatorships, Complex Estates, Contested Conservatorship Litigation Woodland Hills & Los angeles,  Hidden Hills, Elder Law Woodland Hills, Conservatorship Woodland Hills,  West Hills, Los Angeles, Glendale, ProbateAttorneyLosAngeles, LosAngelesProbateAttorney, Calabasas, Woodland Hills Elder Law, Agoura, San Marino, Altadena, Eagle Rock, Alhambra, Downtown Los Angeles, Van Nuys, Pasadena, Studio City, West Los Angeles, Beverly Hills, Burbank, LosAngeles, Encino, Tarzana, Woodland Hills, Reseda, North Hills, Sunland, Studio City, Universal City, North Hollywood, Sylmar, Northridge, North Hills, Granada Hills, Pacoima, Simi Valley, Canoga Park, Woodland Hills Conservatorship Attorney, East Los Angeles, Woodland Hills Elder Law Attorney,  West Hollywood, West Los Angeles, Chatsworth, Santa Monica, Culver City, Los Angeles, Woodland Hills Elder Law, West Hollywood, Anaheim, Playa Del Rey,, Marina Del Rey, Conservatorship, Woodland Hills, Venice, Santa Monica, Malibu, Culver City, Elder Law Conservatorship Woodland Hills Calabasas, Manhattan Beach, Hermosa Beach, Redondo Beach, Los Angeles California, Trust Litigation La County, Torrance, Pacific Palisades, LosAngelesProbate, Pasadena, Glendale, Burbank, Long Beach, Newport Beach, Costa Mesa,Irvine, Laguna, Laguna Hills, Laguna Niguel, Newport Beach, Tustin, Fullerton, Los Angeles, Santa Ana, Los Angeles and Santa Barbara. Westlake Village, Thousand Oaks, Sherman Oaks, Studio City.   Practice areas: Los Angeles Probate Attorney, Probate Attorney Los Angeles, CA Probate Law, Probate Litigation Los Angeles, Trust Litigation Los Angeles, Probate Lawyer Los Angeles. Probate, Trust, Conservatorship, Special Needs Trusts, Los Angeles Conservatorship Attorney, Estate Planning, Conservatorship Litigation, Trust Litigation, and Probate Litigation areas. Los Angeles Probate Lawyer & Probate Attorney Los Angeles

 

California Probate Attorney:  Los Angeles: Probate Attorney Los Angeles California

 

When can you start to act as a probate executor?

When can you start to act as a a probate executor?  Your ability to act starts when the Court issues a document called Letters Testamentary or Letters of Administration.

Mina Sirkin, Los Angeles Probate attorney advises that a person who is named in a will as an executor cannot start to act as an executor until the court issues him/her Letters of Administration or Letters Testamentary.

Lets say you want to list a probate property for sale.   First, a Petition for Probate has filed, and after a hearing, it is to be granted by the court. Then, an order for probate has to be issued, and only after that, the Letters of Administration or Letters Testamentary have to issue.   In cases where there is no will, a bond has to be posted before Letters of Administration can issue.

You can make many mistakes if you act untimely, that is too early or too late.   If you try to sell a piece of property before you have Letters, escrow will not close until such time as the escrow and title officers have checked your Letters, which is your authority to act.

You cannot collect or marshal the assets of the decedent in probate, until you have Letters in your hand.   Banks will not hand over assets to you until they are satisfied that your Certified Letters from the court are given to them.

With proper legal advice in probate, you can avoid making costly mistakes.  To obtain legal representation in a probate matter in Los Angeles, contact our probate attorney in Los Angeles and San Fernando Valley at 818.340.4479.  Email: [email protected].

Prince's Probate Estate inventory

Prince's Probate Estate inventory

Prince died without a will.  His estate was recently inventoried.   Read about it here:

http://www.cnbc.com/2017/01/07/report-prince-left-behind-25-million-in-real-estate-a-cash-horde-and-67-gold-bars.html

If you want to direct how your assets will be distributed at your death, you must act to create a will.   This effectuates a set of instructions to the court to follow your wishes.

Mina Sirkin is a Probate Attorney in Los Angeles.   Ms. Sirkin is often quoted as a media expert regarding probate matters.

She can be reached at 818.340.4479 or by Email at [email protected].

 

 

 

Do you Have Questions About Wills Trusts & Probate in Los Angeles? San Fernando Valley

Frequently Asked Questions about Wills, Trusts & Probate

• By: Mina N. Sirkin
• Certified Specialist Estate Planning Lawyer Los Angeles
• Sirkin Law Group, P.C.
• 21550 Oxnard St. #300
• Woodland Hills, CA 91367
• 818-340-4479
• Email: [email protected]
• http://LosAngelesProbateLawyer.com

What happens if you die without a will?

• In California, if you die without a will, you are said to have died intestate.
• California has a set of default rules for who gets the estate if there is no will.
• Generally, as to community property, the surviving spouse gets 100% of the community property if there is no will in California.
• As to separate property, the children and spouse share it depending on whether there are any children, and the number of children.

The Default Estate- No will

Community Property: 100% to Spouse, or  Registered Domestic Partner, if any.

Separate Property:

If there are no children, the spouse (Domestic Partner) gets it.

If there are children, ½ to spouse, and ½ if only one child. If more than one child, then 1/3 to spouse and 2/3 split among the children.

What is the Cost of Probate Administration in Los Angeles

• Generally, there are several categories of fees and costs.
• Statutory Fees and for Personal Representative and for the Attorney for the Personal Representative
• Extra-ordinary Fees for Personal Representative and his/her lawyer.
• Bond (if not waived)
• Filing Fees for Petitions
• Probate Referee’s Appraisal Fees
• Miscellaneous Costs of Letters and Certified Orders
• Translation of California Statutory Fees

Estate Size            Statutory Fees for Each Personal

                                  Representative and his/her attorney

$100,000              $4,000

$200,000              $7,000 

$500,000             $13,000

$800,000            $19,000

$1,000,000        $23,000

$2,000,000       $33,000 

$3,000,000      $43,000

How long does it take to close a probate estate in Los Angeles?

• A nice probate without any litigation in Los Angeles can take about a year.
• Most cases take somewhere between 1-2 years to complete.
• Complications can happen when there are undiscovered assets or assets which have escheated to the State of California or other states.
• What if there is not enough money to pay cash gifts in a will?
• Cash gifts usually get paid first before the residue.
• If there is no residue, and the cash gifts exceed the size of the estate, the cash gifts get reduced (called abated.

What happens if the deceased left more than one will?

• If the decedent left more than one will, generally, there is a presumption that the last one governs, unless:
• You can show there was fraud, duress, mistake, undue influence, or lack of capacity at the time of execution of the will.
• In that case, there will be a will contest and the court will set the case for a trial as to which will is valid.

What are the best ways to prevent
gold diggers from getting to your trust assets?

• Preventing undue influence can be effectuated by:
• Naming a Professional Fiduciary as Successor Trustee
• Setting up an automatic change in the trustee to a professional, once trustor reaches a particular age
• Creating an Exclusive Method of Revocation for the Trust.
• Creating an Exclusive Method of withdrawal and transfer of property from the Trust.

About Mina Sirkin, Los Angeles Probate Lawyer

• Mina N. Sirkin has been practicing probate law in Los Angeles County since 1992.
• Ms. Sirkin is a Board Certified Specialist in Probate, Estate Planning, and Trust Law in California.
• Frequent Media Expert on Estate and Conservatorship Cases in Los Angeles
• Appeared on CNN, CNBC, Inside Edition, RollingStone.com, KCET, NPR News

Probate Attorney Los Angeles | Sirkin Law Group Probate | Los Angeles County, Glendale, Woodland Hills

Probate Attorney Los Angeles | Sirkin Law Group Probate | Call 818.340.447

Some of you may wonder what the probate process is like in Los Angeles from an attorney's perspective.  

"The most important fact to know about probate is that Probate is a protective proceeding."

1.   The process insures that the court supervises the actions of an executor or administrator.  

2.  The Court overlooks the admission of wills and allows a forum for people to question authenticity 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, via a bond.

4.   Probate provides a method of transfer of title to property of a decedent.

5.  It includes 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 a Petition for Probate filed with the Central Court (Downtown). The petition requires that a notice be published in the local newspaper where the decedent resided.   The reason 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 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 to request one.

The alternative to a bond is a blocked account, or appointment of another person, such as a private professional fiduciary, or a trust company as administrator.

What if you can't agree to an issue in probate?

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

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. Probate Attorney Los Angeles  

Call: 818.340.4479. Los Angeles Probate Lawyer