It is rare to be able to emotionally prepare for someone’s passing – and it is even rarer to truly feel like you are prepared at all when it happens. Most of the time, a person’s death comes as an unexpected shock, no matter how likely it may have seemed – and for the family, it can be a major blow with lasting repercussions.
Even more so when, right afterwards, the family is bombarded with a series of tasks related to the belongings of the deceased, entangled in red tape rather than having the opportunity to mourn and grieve for the death and loss of a loved one.
This can be prevented through smart estate planning, which is composed of a series of tools all Americans have access to, to help them simplify the inheritance process and remove much of the grief and complication associated with dealing with a deceased person’s belongings. Yet in the case of most Americans, estate planning is not something that is taken into consideration. Instead, over half of the country – about 60% - lack a will or any form of estate planning.
If you are faced with the predicament of probate and everything that comes with it right after your loved one has passed away, then it is understandable how confused you must be. If no will is presented, and no alternative estate plans have been established to take care of a person’s property after they pass on, intestate law kicks in. For every state, different rules exist regarding how property is passed on, and what is to be considered by a court when passing property on.
Regardless of what state you are in, however, depending on the amount of assets involved, will or plan-less estates must go through a special probate court to either prove and legitimize the will or oversee and facilitate the distribution of the deceased’s accounts, belongings, and property.
Although the circumstances change from case to case, the steps in the probate process remain relatively static. They are:
As for how the estate is distributed in intestate, it depends on each state. In California, it has a question of whether the deceased is still married or not.
Typically, a qualified next of kin is appointed to be the executor, or administrator for the decedent’s estate – which can come as an unexpected burden to someone still coping with the recent loss of a loved one. Such individuals are often chosen in wills, or in the case of a trust, specific individuals can be appointed to be the successor trustee. The job of an executor can be extremely stressful, as it involves dealing with creditors, keeping a strict inventory, maintaining property until it is passed on or sold, and more.
Executors do not need to be related to the decedent. If no spouse or next of kin exist, then someone else who is seen fit or suitable to the task will be chosen by the court.
During the probate process, you are usually given the authority by the court to sell property in the estate while you are handling the probate. Some companies and firms specialize in buying homes in probate.
If you have read this and are worried about the probate process and what it brings to the table both emotionally and financially for your loved ones once you pass on, there are methods that allow you to summarily skip probate, and greatly simplify the inheritance process and overall costs for all involved parties.
Through a revocable living trust, you can hold all your assets and properties while maintaining control over them and having a greater control over how they should be distributed in the case of your death or permanent incapacitation. Unlike a will, trusts keep all their contents private, and can be used to more delicately and specifically state how each item should be passed on.
A trust is typically a bit more expensive and more complicated to set up than a will, but it can be done quickly with a professional. Arguably the greatest tedium lies in changing the deeds and ownership paperwork from your name over to the trust’s name. Furthermore, adding to or amending a trust is more involved than amending a will.
But if you potentially leave behind a very sizeable estate, a trust can not only save your children money, but speed up the inheritance process tremendously. Be sure to contact a legal professional and discuss your estate planning options or revisit your current plan.
Founded in 1975 by L. Rob Werner and serving California for over 48 years, our dedicated attorneys are available for clients, friends, and family members to receive the legal help they need and deserve. You can trust in our experience and reputation to help navigate you through your unique legal matters.
Whether you need help creating a living trust or navigating probate, our living trust law firm's compassionate team of estate planning lawyers and probate lawyers are here to help you and ready to answer your questions.
Our goal is to make your case as easy as possible for you. Hiring a lawyer can be a daunting task, but it doesn’t have to be. From the moment you contact our firm, through the final resolution of your case, our goal is to make the process easy and understandable. We cannot change the fact that probate is a long and complicated process, but through our Werner Law Firm Difference, we strive to go out of our way to keep you informed of your case through every step of the way. We are constantly refining our processes and procedures for a more streamlined and calm client experience. Our goal is to have you feel like a burden was lifted from your shoulders, and that we made the whole process an easy one
If you're dealing with a legal matter, we urge you to schedule a free initial appointment today and join the many satisfied clients who have contacted Werner Law Firm.
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Newport Beach, California 92660