The term “probate” – which literally means “proving” – refers to the process wherein a decedent’s will must be authenticated, outstanding legitimate debts paid, and assets transferred to the beneficiaries. Probate is a judicial proceeding by which the court decides the rightful heirs and distribution of assets of a deceased.
Going through probate can be both more time consuming and expensive without a will than it is with a will. This is because your will can waive certain probate requirements (like having the executor post a bond or obtain judicial approval to have an estate sale). At the same time, probate without a will follows the governing state’s intestacy laws which may likely result in a less-than-perfect split of assets that not only may not be in line with your wishes but may leave many surviving loved ones unhappy.
Book your free consultation with a Westlake Village probate lawyer today.
Read our blog for more information on avoiding probate in California.
If someone passes away and they have minor children with no planning in place, state law will decide who gets what and when.
This is why it is so important for parents that have minor children to get a plan in place to protect their kids. Without legal estate planning documents in place, parents have no say what happens to their minor kids if something happens to them.
In California, if an estate must go through probate court, the fees have to be paid to both the attorney and personal representative (also known as executor or administrator). These fees are set by state statute and are for the total value of the estate.
California Probate Code §10810 states that probate fees are 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 one-half % of the next $15,000,000. For an estate above $25,000,000, the court will determine a reasonable amount for the fees. If the probate matter is complicated or special circumstances arise, higher fees can be ordered by the court.
Costs for probate court also include a probate petition filing fee of $435 and $435 at the closing of the probate to file the petition for final distribution of the estate assets. There can also be other miscellaneous costs including probate referee fees, bonds, publication of probate notice, and other costs.
Probate can be avoided with the proper planning by creating a trust. Property in a revocable living trust does not pass through probate. Property that passes using a will only guarantees probate.
As everyone’s situation is different, it’s important to analyze every aspect of your situation – and what the future may hold – so that you can determine what’s right for you and whether probate avoidance, incapacity planning, and trust protections have value to you and those you love. Most people receive the greatest overall benefit from having a trust.
Without an estate plan in place, you and your family are left completely unprotected. Call our office at (805) 307-5019, click below to schedule an appointment with one of our estate planning attorneys, or complete the form below and we’ll help you determine whether a will or a trust makes sense for your situation. You don’t have to make these decisions alone.
No two families are the same, so no two estate plans will be.
To discuss your custom California estate plan strategy, contact us. Let’s chat. We assure you that you will be able to communicate openly with us in a no-cost consultation, whether in English, Spanish, or Korean.
Click below to schedule an appointment, or complete the form here. A member of our estate planning team will contact you!
Crista and her team are amazing. Rick and I had our Family Trust done. We had been talking about doing it for a couple years and it seemed daunting. Crista really helped by taking the time to explain everything instead of just saying…do this. We really appreciated her process. One big thing for us was how the appointments were laid out, so as not to waste time, yet spend the time needed to answer questions and get things done. Thank you to Crista and her team for making the process easy and for making us feel special for finally getting it completed!
We worked with Jun Shim. He’s fantastic. Helped us step by step figure out everything we need to feel good about how we leave things for those we care about. Love how Hermance Law offers great digital options too. Highly recommend!!
THE BEST! Crista Hermance and the Hermance Law team are simply great at what they do. As a fellow estate planning attorney, I have very high standards for others in my field- Crista and Hermance Law is one of the few firms I refer my clients and their families to without hesitation-if you need a knowledgeable, professional, caring advisor to guide you through the estate planning process, look no further – HIGHLY RECOMMEND!
Such a great firm! My husband and I got our family trust done and are so happy with the service and professionalism we received. They offer so many options for all your needs and budget. We feel very secure and protected now that we have this completed. Not only the attention to detail throughout the process make them great, but the follow up and constant contact make them amazing. While they specialize in families with small children, Hermance Law can assist with all your trust needs. I have already referred them to multiple families of all ages with rave reviews. Worth a consultation, worth following them on social media and the piece of mind you get is priceless!!
Attorney Jennifer Romero from Hermance Law walked us throughout the entire estate planning process answering our questions and providing guidance on the options we have available. Her support made it easier to understand California’s law regarding estate planning and minor children. I highly recommend this service to anyone who needs support with documentation of your wishes. Thank you Jennifer!
We are probate lawyers, but we are also parents. We have great resources on estate planning for parents, focusing on what parents can do to protect their children in emergencies.
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Probate is the process of carrying out your will and handling your estate once you pass away. An executor fulfills this process, and some of their duties include appraising your property, paying off your debts, and distributing your assets to beneficiaries. Probate can be overwhelming and time-consuming. Thankfully, a probate lawyer can help make it a lot more simple.
You can avoid probate by:
There are many ways you can try to avoid probate… some better than others. Reach out to an estate planning attorney on our team today to determine which estate planning services are right for you.
Probate costs vary depending on the size of your estate, attorney fees, and other expenses. Check out our Probate Fee Calculator to get an estimate of what settling an estate could cost.
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