Attorney James Roberts explains what probate is, the basic steps for probate, and why you would want to avoid having to go through probate.
What are the basic steps for probate and why do you want to avoid it?
- The first basic step for probate is filing the decedent’s will within thirty days of learning of the decedent’s death.
- Next, the personal representative of the estate must inventory and appraise assets to have sufficient information to provide on the probate petition.
- Third, the petition for probate must be filed.
- Fourth, a hearing on the petition is set for approximately 6 to 8 weeks after the date of filing the petition.
- At this time, notice must be given to all interested parties by mail or publication in a newspaper of general circulation.
- Finally, at the hearing, if the court is satisfied with the petition, the form of notice, and there are no contests, the will is admitted to probate, and Letters of Testamentary are issued (granting authority to the personal representative to act on behalf of the estate). If there is no will, Letters of Administration are issued.
Please note, these are only general steps, and every probate may differ in one way or another. If you have questions about a probate matter, please contact our office at (714) 282-7488 so we can guide you in the right direction.
You may ask, “Why should I want to avoid the probate process?” Well, if you have assets that total more than $150K in California, you will have to go through the probate process if you do not properly plan.
There are three main reasons you want to avoid probate:
- The time factor is tremendous in California for probate. It takes around one to two years in California to go through the probate process.
- Probate is also costly; you can anticipate losing about 5% to 10% of the family market value of your assets in the probate process.
- It also adds a lot of stress and headache for your loved ones and lends itself to many conflicts arising.
Contact us today and set up an appointment to talk about what the basic steps for probate are, and how you can be sure to avoid the probate process for your loved ones.
We offer a many different resources and pamphlets on the subject of creating, updating, and implementing estate plans. We also offer a regularly scheduled seminar in our office to help people determine the best options for their estate planning needs. We hope you sign up for one of our seminars to help you find your best options. We regularly conduct free seminars designed to teach about the benefits of creating an estate plan. The seminars are held on-site at our Anaheim office inside of our “classroom”. We offer light snacks and refreshments to the attendees, and the group is often small and intimate, which allows for questions to be asked comfortably and for a very relaxed environment. Please encourage your loved ones to attend the seminar so that they may learn more about the estate planning process and benefits.