The American Bar Association (ABA) defines probate as: the legal process that gives formal recognition to a will and appoints the personal representative (executor) to administer the estate to intended beneficiaries. Navigating the probate process varies according to state law. Therefore, contact a probate lawyer to determine if the estate is small enough to bypass formal probate. Also, ask whether the fiduciary must be bonded. The will may waive this requirement. What’s more, it stipulates what reports remain necessary.
The Uniform Probate Code
In more recent years, states simplify probate procedures. For example, the Uniform Probate Code (UPC) consists of laws written by a group of national experts. As such, it helps to standardize and streamline probate. As a result, most states have adopted these standards. Across state lines, the probate process generally works more effectively.
Probate Attorneys Help Navigate or Avoid Probate
However, don’t consider failing to meet with a probate attorney. Individual states maintain different monetary thresholds for what constitutes a lower value estate. Administering complex estates with an attorney’s guidance proves beneficial even if most estate assets already take advantage of estate planning tools designed to bypass probate. An estate planning attorney supports the executor or personal representative. Also, they provide local courts with basic information. These include death certificates, form submissions, and communication with beneficiaries while administering the estate. These help keep the probate process as simple as possible.
The Essence of Probate:
- Determining and proving the decedent’s will.
- Submitting an estate inventory and appraisal of the decedent’s property.
- Ensuring the estate’s taxes and debts are paid in full.
- Making sure every estate asset is distributed in accordance with the decedent’s will or the state’s intestacy laws.
Probate Attorneys Help Executors
The estate’s personal representative initiates court procedures. They also distribute assets to named beneficiaries. If the personal representative fails to initiate probate proceedings, any party interested in the estate may initiate probate. Typically, these parties would gain assets from the will, like a beneficiary or a creditor. In the absence of a named personal representative or if they cannot administer the estate, the court appoints one to oversee the probate process. Instead, you may hire a probate attorney.
Maintaining Privacy as You Navigate Probate
If heirs disagree, sort out such issues before beginning the probate process. This reduces the risk of a legal challenge to the will. Once filed, probate proceedings become part of the public record. However, most people prefer privacy regarding the death of a loved one and inheritance.
Avoiding Probate with Estate Planning Tools
Knowledgeable estate planning attorneys help clients navigate probate to keep the process to a minimum:
- Annuities, life insurance policies, and retirement funds with named beneficiaries.
- Pay-on-death or transfer-on death-accounts.
- Property in joint tenancy with rights of survivorship.
- Property held as tenancy by the entirety.
- All property held in a legal trust.
Most individuals seek to minimize the probate process when creating their estate plan. This best practice is suitable for larger and more complex estates as probate can become expensive and significantly decrease your estate’s inheritable value. Even smaller value estates using the entities and techniques for direct transfer or property outside of probate can benefit. Talk over your wishes with your estate planning attorney to create a plan that can minimize probate. If you are already a named personal representative and the existing estate plan is murky or without the presence of a will, a probate lawyer can help you assess the best path forward to accomplish the probate process with minimal loss to the estate’s value.
About Skvarna Law Firm in Glendora and Upland, California
Let a skilled attorney assist with your estate plan. So, contact us today to learn about your options (909) 608-7671. We operate offices in Glendora and Upland, California. Therefore, we provide legal services for individuals living in San Bernardino, Los Angeles, Orange, and Riverside Counties. This includes the cities of Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Montclair, Pomona, La Verne, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
