Guiding You Through Probate One Step At A TimeWe are sorry for your loss.We know this is a difficult time for you and your family, and the thought of going through the probate process is undoubtedly unpleasant.
However, here at Amichai Law, APC we can assist you in ensuring this process goes as smoothly as possible. Although we cannot make the probate process enjoyable, we do many things to try and ensure that it is as quick as possible.
many things to try and ensure that it is as quick as possible. If you have any further questions regarding probate, we have listed below some common questions that people have regarding the probate process.
If you wish to schedule a consultation with us, please contact us. We will reach out toyou very soon to discuss how we can best assist you.What is Probate?Probate is the legal process, supervised by the court, by which the deceased's assets are transferred to the deceased's heirs and beneficiaries. How do I know if an estate must go through the California Probate Court? You should consult a lawyer to see if an estate needs to go through the probate court. An attorney can give you an exact answer regarding your specific situation. Even if you do not need an estate probated, you will most likely need an attorney's assistance to transfer the estate to the heirs and beneficiaries (for example, a small estate affidavit or a trust administration). However, if before consulting an attorney, you wish to also try and understand by yourself whether an estate needs to be probated, you can do the following:- Make a list of all the assets of the deceased at his death. The list should include the kind of asset and its value. Write down the total value of all the assets. Now subtract from the list the following items and their value:
- Accounts with a named upon-death beneficiary—any account with a beneficiary listed on it at the time of the decedent's death (very common for IRAs and other retirement accounts) will not be subject to probate. They will instead be delivered directly to the named beneficiary upon the satisfaction of the financial institution holding the account (usually requiring a death certificate and filling out some forms).
- Accounts and Real property held jointly—bank accounts with a listed joint owner or property held in joint tenancy will, in most cases, be transferred in full to the joint owner of such property. For accounts, you can check if there is a listed joint owner on the account. For real property, Check the latest title deed to see who the owners are.
- Any property of the deceased held in a trust.
- If the total value of assets after subtracting the sum value of the property above is equal to, or less than, $184,500, then the remaining assets do not need to go through a probate. Please note, however, that a formal probate may still be required if the remaining assets include any real property, even if valued at less than $184,500.
- 4% of the first $100,000 of the estate;
- 3% of the next $100,000;
- 2% of the next $800,000;
- 1% of the next $9,000,000
- And 0.5% of the next $15,000,000.
- Estates larger than $25,000,000 will be subject to a court-determined fee for the amount greater than $25,000,000.