What is probate?

Probate is a legal process through the court to protect the interests of the beneficiaries and creditors of the estate. 

When is a probate necessary?

A probate is required when a person dies holding assets in his or her name alone worth greater than $150,000 at the date of death. The decedent’s debts are not taken into account in determining whether a probate is necessary, but will be handled in the probate. Assets worth less than $150,000 can be collected through a different procedure. Our firm can assist with this type of situation.

Assets that pass without the requirement of probate are those held in a trust for the benefit of the decedent or in the decedent’s name in joint tenancy with right of survivorship, community property with right of survivorship, transfer on death accounts, pay on death accounts, as well as life insurance policies and retirement accounts (which pass by beneficiary designation as long as the beneficiary designation is filled in and submitted to the institution), and perhaps stock options, if the plan allows the beneficiary designation as a method to pass them on death.

What is the purpose of an estate administration?

Although there are a number of steps in the administration of an estate, the process is directed toward three goals: collecting and managing assets, paying debts and taxes, and distributing the balance of the assets, as provided in the will or by California law.

Is it necessary to hire an attorney for a probate?

A probate can be handled by the personal representative alone; however, because of the many procedural and legal requirements involved in a probate, it is advisable to hire an attorney. Although the court is very accommodating to persons appearing before it without counsel, the many mistakes and omissions presented before the court will result in long delays in the administration of the estate. An experienced attorney will make an otherwise burdensome process manageable and expedient.

Can the personal representative receive compensation for his/her service?

The personal representative is entitled to compensation based on the adjusted value of the estate. Statutory probate fees are allowed; however, extraordinary fees for the attorney or personal representative must be submitted to the court for approval. Please refer to the Probate Schedule for more information regarding compensation.