Formal probate is not always necessary. Perhaps your loved one took steps to avoid probate, making use of trusts or other estate planning tools. Even if they did not, it still may not be a requirement to go through formal probate.

In California, a “small estate” can go through a simpler form of probate and estate administration. Here are three questions to answer when determining if the estate is small.

What does the law say?

When faced with your loved one’s assets after they pass, the estate may not seem small at all. There might be a long list of assets to address. However, an estate is considered small under the Probate Code only by its value. As the Judicial Branch of California explains, an estate with a value of $184,500 or less is a small estate.

What does that mean?

There is a chance that a small estate may not have to go through the formal probate process. Of course, there are more details you must evaluate when determining the route forward. However, a small estate could go through a more simplified process.

What should you do?

You should not assume the estate can qualify for the simplified process of administration. As the personal representative of your loved one’s estate, there are two critical steps to take, involving:

• Information: The moment you find out your loved one named you the personal representative or executor of their estate, you should take time to study up on what that means. Research the rules in California, your responsibilities, the steps of estate administration and the conditions that could qualify the estate as small. Contact a trusted probate attorney if you have any questions.
• Inventory: The first step, regardless of whether your loved one’s estate will require formal probate or not, will be to take a detailed inventory of the estate. It is important to get the details the estate in order, so you can determine how you move forward. Taking inventory of your loved one’s assets – and debts – will be key to determining which process you should use.

Once you have the legal and estate-specific information you need, then you can move forward. The entire process of estate administration, whether it is formal probate or not, can be complex. It can be beneficial to obtain guidance to prepare for the next steps.

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It is common to hear quite negative, and even scary, things about probate. So, when you begin the process of estate planning, you may wonder: is there a way to make things easier on that front for your family?

There are steps you can take. These are three actions you can take now that could help facilitate the probate process in the future.

1. Be detailed

Take great care in organizing your assets as well as your estate plan. The more details you offer, the more guidance you provide for your family after you are gone. For example, you can include instructions for how to handle your assets in your will or in your trust.

You can make use of various estate planning tools to facilitate probate or even keep assets from going through probate. Your estate plan should meet your needs. So, it can help to understand all of the options available to you as you prepare your estate plan.

2. Communicate

It is not easy to talk with your family about what could happen when you are no longer here. However, it is an important conversation to have. As we have discussed in previous blog posts, it can help to:

• Prepare what you want to say
• Set aside a time to have this conversation
• Keep your family updated on any changes you make

Ensuring your family understands your wishes – coming directly from you – can make a big difference. Plus, communicating now can also reduce the risk of misunderstandings, confusion and even conflict later, during the probate process.

3. Ensure your plan follows the law

When the laws change, so may your estate plan. It is important to keep your plan updated according to any changes in California law. Stay aware of any new laws, even after you create your estate plan, to make sure it remains aligned with the state rules.

Estate planning is not only for planning to protect your assets, legacy and family. You can also plan to guide your family through this process. Keep in mind that a will (or no will) triggers the probate process if the assets of your loved one are over a certain amount, and in the loved one’s name, without a beneficiary designation.

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According to the Holmes-Rahe Life Change Index Scale, the death of a spouse and that of a close family member fall into the top five most stressful events a person could experience. Though, you may not even notice the stress at first, as the grief may be overwhelming.

Amid all of this, how are you and your family supposed to handle the legal processes of probate and estate administration? Here are some helpful – and healthful – tips to consider.

3 tips each – managing stress and grief

To effectively handle stress, it could help to:

1. Keep a journal, to work through events and emotions
2. Prioritize wellness, including proper sleep and regular exercise
3. Try calming strategies, like breathing techniques

At the same time, to cope with grief, you may find it beneficial to:

• Avoid isolating, lean on your family and friends
• Recognize and allow yourself to feel all your emotions, no matter how complex they are
• Keep your routines as normal as possible

Of course, you should find strategies that work best for you. What is important is to be proactive. As we have discussed in previous blog posts, California probate can be a complex process, lasting up to a year. Left unchecked, the long-term effects of stress could be serious for both your mental and physical health.

Help is available when you need it

You do not have to go through this stressful process alone. There is professional help available to support your physical and mental health, as well as guide you through probate. Many people tend to avoid both mental health and legal counseling – whether it is due to stigma or cost.

However, it is important not to overlook the services open to you, especially when they are designed to help you when times get tough. Your loved one trusted you to uphold and fulfill their wishes, but they would not want it to be at the expense of your health. Do not be afraid to seek help for whatever you may need during this time.

Reach out to The Probate House L.C. at 424-426-2629 for a free consultation.

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The concept of probate alone can be stressful to think about. Since it is a process that only occurs after the loss of a loved one, many people are not aware of the details.

So, many people hear the myths about probate and worry about what that could mean for their families. One rumor is that probate is expensive. While there are certain fees involved in the probate process, it is important to know the details and how to manage the costs. Here are some frequently asked questions related to probate costs.

Who pays the fees?

Technically, your loved one’s estate will cover probate fees. However, as the Judicial Branch of California notes, personal representatives may have to pay costs as they arise during the probate process, but they can obtain reimbursement from the estate after the case closes.

How much does it cost?

Like many other matters in probate, the cost will depend on the details of the estate. For example, it could depend on:

• Whether your loved one took steps adding beneficiaries to the bank accounts or investments to reduce probate fees
• Whether formal probate is necessary
• The total value of your loved one’s estate
• State or location-specific rules
• Taxes

There is no set cost for probate. The filing fee is usually $435, but the administration fees and additional costs can vary widely depending on factors like those listed above. Kiplinger notes that, on average, probate costs could take anywhere between 4% and 7% of your loved one’s estate.

What should you do?

To prepare yourself for probate – and the financial matters involved – it can help to have a comprehensive understanding of your loved one’s finances and estate, as well as your own finances. Taking inventory and getting organized can make a key difference as you manage probate.

It will also help to learn as much as you can about the process before you begin the probate of your loved one’s estate.

Reach out to our experienced team at The Probate House L.C. to learn more about the probate process in California. To contact us, call 424-426-2629 or send us an email.

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Over the years, you fill your home with memories, things you love and value. You may have shelves of books, cabinets with heirlooms and souvenirs on display and many more knick-knacks.

When it comes to creating your will, you may wonder: will it be necessary to address every single one of these belongings in your estate plan?

Your estate includes everything you own

Nitpicking over every single trinket may not be necessary. However, it is important to remember that your estate consists of everything you own, which can generally fall into three categories:

• Finances, from savings accounts to stocks
• Personal property, from clothing to cars
• Real property, from your family home to your vacation home

Taking all of these assets into account can be overwhelming. In fact, that overwhelm is one of the reasons many Californians put off estate planning for so long. Even so, it is important to have a plan in place.

The probate process in the future will require an inventory, but it will help you in the present to take inventory of your assets to reduce the stress surrounding this process.

Yes, you should address everything, but…

While you should consider all of your assets in your estate plan, you must remember that you can customize your plan according to your wishes and needs. Therefore, you can:

• Address assets differently based on your priorities
• Group similar, smaller assets together and provide instructions

For example, you will likely be much more specific about how you wish your representative to handle your bank accounts than you will the furniture in your living room.

What matters the most to you?

This will be the key question to ask yourself as you evaluate the assets in your estate. Whether that is your hard-earned wealth or your record collection, you can navigate estate planning based on what assets you value the most.

The family values you hold dear can also help how you plan. You may consult with your loved ones as you create your will and estate plan, to make sure your wishes are clear and your family will be provided for.

Taking the first steps in estate planning can be intimidating. However, the resulting preparations can provide peace of mind for you and your family as you move into the future.

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Losing a spouse, a life partner, is unimaginable. You are left facing grief and stress. Not to mention, endless questions. After all, there are legal matters to address on top of the emotional turmoil. Here are three critical questions to address in this situation.

What does the estate plan say?

You and your spouse may have prepared for this exact situation. If you created your estate plan together, it is possible that you planned for the property to transfer to the surviving spouse, perhaps in a living trust or by beneficiary designations.

Review the estate plan and your combined assets, even if you are familiar with them, to understand how you will move forward.

What are your rights?

It is critical to understand your rights whether or not there is an estate plan. For example, it is important to consider your rights regarding:

• Community property in California
• Joint tenancy or property ownership
• Rights to survivorship or transfer-on-death terms

These particular rights could mean assets can be passed to you without probate. It may help to consult a probate attorney to fully understand your rights in this situation.

What is the Spousal Property Petition?

It may also be helpful to be aware of the option to file the Spousal or Domestic Partner Property Petition. This petition allows you to request to have certain assets your spouse owned transferred to you without having to go through probate. Whether or not your loved one had a will, it might be necessary to file this form in some cases.

Dealing with the loss of a loved one is stressful enough. Managing the property you shared together is likely the last thing you want to do at this time. However, this is an important step to take in order to protect the wealth you built with your spouse, as well as your rights.

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Losing a loved one is never easy, and dealing with legal matters during this time can add to the stress. If you are the personal representative or executor of the estate, it may be your responsibility to start the probate process. But what happens if the original will is lost or destroyed?

It is natural to feel panic set in. However, there are steps you can take in this situation.

5 questions to evaluate

If you face challenges with a lost will, there are five questions to consider:

1. Can you find the will? The first step is often to see if you can locate the will. It is possible that someone merely misplaced it. It could be in a safe or mixed in with other important documents.
2. Did your loved one revoke their will? It is important to distinguish if the will is simply lost, or if your loved one intended to revoke or destroy the will. This could alter how you move forward, as well as the administration of your loved one’s estate.
3. Are there any copies? In some cases, the probate court may accept a copy of the will, as long as they can prove it is valid.
4. Where are the witnesses? California requires two people to witness the signing of the will for it to be valid. You could contact the witnesses to confirm a loved one’s intentions regarding the lost will.
5. Did an attorney help them create the will? The attorney who they worked with may have relevant records detailing your loved one’s wishes. They may even have a copy of the will available.

Answering these questions can help you determine how you will move forward with the probate of your loved one’s estate. Of course, the best-case scenario is that you locate the will. Even so, gathering this evidence can help.

Collect and present the evidence

As you may know, one of the primary purposes of probate is to prove your loved one’s will is valid. This is difficult to do with a lost will. However, following the steps above can help you collect evidence of your loved one’s wishes and even copies of the will to submit to the probate court.

While you will also have to file a declaration about the lost will, it could be possible to move forward. Though, it may be a good idea to seek experienced counsel to fully understand your options in this stressful situation.

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Life gets busy. The to-do list may seem never-ending, and the matter of planning for the future can fall lower on the list each day.

However, this is a trend that seems to be widespread. This past March, Forbes reported that there has been a significant decrease in estate planning among older Americans. You may worry if your elderly parents fall into this category. So, what can you do to encourage them to start making an estate plan?

5 steps to take to help parents on the path to planning

Of course, you cannot simply tell anyone what to do – especially your parents, no matter how old you are. However, an estate plan is an important tool for everyone.

If you worry about your parents’ future, it can help to:

1. Get the rest of your family on the same page: If you have siblings, you may first want to speak with them about your parents’ lack of a plan and figure out how you want to approach the discussion. If all of you form a united front, it may encourage your parents to begin planning.
2. Communicate your concerns: This can be a challenging conversation. You and your siblings may start small, sharing your worries if the topic comes up naturally. However, it is also helpful to have a purposeful, open conversation with your whole family.
3. Be compassionate: It is not easy to think about the end of one’s life. That is one of the reasons so many people put off estate planning for so long. Be empathetic with your parents. It always helps to use “I” statements, to discuss your worries for them and everything they have worked to build.
4. Ensure they understand the risks: While fear is not always a convincing factor, it is important to fully understand the risks of not having an estate plan in place. Health issues, family conflict and the distribution of assets in California according to intestate succession are just a few of the issues that are critical to be aware of.
5. Make a plan yourself: Make a plan yourself: If you have not created your own estate plan yet, it may help to work on your plans first or at the same time. You, may want to share with your parents that you are working on your estate plan and that you are happy to share what you have learned or what you are learning from your meetings with your lawyer.

While fear is not always a convincing factor, it is important to fully understand the risks of not having an estate plan in place. Health issues, family conflict and the distribution of assets in California according to intestate succession (may require a probate proceeding and not at all what your patents had planned)  are just a few of the issues that are critical to be aware of.  A more serious issue that is often overlooked, you may be have to meet with attorneys to file a Petition for a Conservatorship during a parent’s life time to handle his/her assets as well as health issues during their incapacity,  which is extremely costly, because they did not have estate planning documents in place.

In the end, your parents must be the ones to take the steps to prepare their estate plan. Even so, you can ask them questions and share your concerns about protecting their futures.

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In the Los Angeles area, the topic of intellectual property (IP) and any royalties from such property is always relevant. However, what happens to those rights and royalties when the person who owned them passes away?

Some of the steps are similar to other assets

Much like any other items a loved one left behind, there will be certain steps to take in probate. These steps, which apply to royalties as well, include:

• Take inventory: It will be necessary to make an inventory of the entire estate. However, it will help to include a specific list cataloging any IP rights and royalties that the decedent owned and received.
• Value the assets: A valuation of the estate is critical – and yet valuing such assets and royalties can be complex. It will help to obtain experienced professional guidance when determining the value of these particular assets.
• Notify the necessary organizations: You must inform the entities paying any royalties of the loved one’s passing.

Even though similar steps are required, these assets are often not as easy to handle.

What makes these assets complex?

There are many facets to these types of assets that make them so complex. For example, even if the decedent adhered to California’s rules in their estate plan to pass on these assets, there are still other factors at play after the death, including but not limited to:

• Continued revenue streams: Royalties and often IP rights are not a lump sum, as many inheritances are. They continue to create revenue over time.
• Specific rules: It will be critical to understand the nuances around IP ownership if you are to inherit or even manage your loved one’s IP rights. In some cases, an estate plan should provide clarity about how to handle the rights. It will help to look into registrations of IP as well as any contracts related to these rights and royalties.

These are only some of the issues to address when managing these complex assets in probate. Managing an extensive and complex estate after losing a loved one can be overwhelming. Seeking guidance from a probate attorney will help reduce the stress of the situation.

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The probate of a loved one’s estate brings with it a long list of things to do, documents to file and assets to locate. All of this is on top of the reality of losing someone you love.

There is no question that this can be an overwhelming time for California families. So, how do you mentally and emotionally get yourself ready for the probate process?

Understand what to expect

As the personal representative or executor of the will, you may have some idea of the duties related to the role your loved one assigned you. It is best to make sure you know what to anticipate throughout the proceedings, including:

• The timing: According to The Judicial Branch of California, probate can take roughly nine months to over a year. Most often it takes longer, depending on the complexity of the estate and whether or not real property is involved.
• Your responsibilities: Even if you discussed these with your loved one when they created their estate plan, it is important to know what will be expected of you.
• Your loved one’s plan: A detailed estate plan provides information as to who is to handle the probate and the distribution of assets before you even begin probate.

Knowing what the process will entail can help you mentally prepare yourself and mitigate any stress and overwhelm you feel.

Be proactive about your mental health

Probate can be intense, considering all of your duties and the deadlines by which you must complete them. In addition to preparing yourself with knowledge, you should also make sure you directly address your mental health. It can help to:

• Not ignore grief: Simply because you are taking on an important role in the estate administration does not mean you have to push your feelings aside. Bottling up and ignoring emotions can often make things worse in the long run.
• Avoid burnout: While you must fulfill your responsibilities, you must also make sure you take time for yourself to recharge and rest.
• Have a foundation of support: Your family members and friends can be there for you to provide emotional support. It helps to speak with legal professionals who can offer knowledgeable support through the probate process from beginning to end.

Taking time to prepare yourself in all senses of the word can make a big difference in your approach to probate and even for your well-being. It is also important to remember, it is best not to manage the process alone.

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