Probate - Probate is the legal process dealing with the administration of decedents estates. The probate process can be very complex, time consuming and costly. Court supervision is required before property will pass to heirs and beneficiaries. An estate can be probated with or without a will. A will is a document that directs the distribution of a property. If there is no will, the property passes by way of intestate succession. In the probate process the court will designate a personal representative of the estate who must closely follow probate procedures and carefully account for and distribute assets. All property must be appraised, certain items by the personal representative and other items by the assigned probate referee. The court may order that the personal representative be bonded to protect the assets of the estate.
In estates where the total value of the assets are less than $100,000, certain affidavits may allow transfer of property. The affidavit to transfer personal property is not filed with the court. The affidavit to transfer real property must be filed with the court and a hearing held. Proper notice of the hearing must be given.
In certain cases, a spouse may transfer property without the need for a formal probate. This requires that a petition be filed, proper notice given, and appearance at a court hearing.
Trusts - A trust is an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. You can be the trustee of your own living trust, keeping full control over all property held in trust. A "living trust" (also called an "inter vivos" trust) is simply a trust you create while you're alive, rather than one that is created at your death. Different kinds of living trusts can help you avoid probate, reduce estate taxes, or set up long-term property management.
Most people want to leave as much of their money to their children, or other heirs, as possible - and want to avoid a big chunk of that money going to probate lawyers. That's where living trusts come in - they can help in avoiding probate and probate fees.
Probate involves inventorying and appraising the property, paying debts and taxes, and distributing the remainder of the property according to the will. When you make a living trust, your surviving family members can transfer your property quickly and easily, without probate. More of the property you leave goes to the people you want to inherit it.
A basic living trust allows property to avoid probate and to quickly and efficiently pass to the beneficiaries you name, without the hassles and expense of probate court proceedings. A married couple can use one basic living trust to handle both co-owned property and separate property.
Does your family have a plan for the future?
Having a proper estate plan is crucial to ensuring that your wishes will be carried out in the event of your death. Without legal documentation of your wishes regarding disbursement of wealth or property, your family could spend years in probate court to determine the fate of your estate. We can take care of the numerous details involved in estate planning and leave you with peace of mind.
We’ll Make Sure Your Assets Are Protected:
- Wills and trusts
- Codicils ( will amendments )
- Probate
- Will contests
- Conservatorships
- Litigation
At the Law Offices of William R. Jaymes, we can help you protect your legacy through a variety of estate planning measures.
Put our decades of experience to work for you.
A member of the State Bar of California since 1987, Attorney William R. Jaymes has more than 35 years of experience in the practice of law. Our legal team stands ready to vigorously defend your interest, whether you need legal support for your business or protection for your legacy.
Provide your family with the protection it deserves. Contact William R. Jaymes, Attorney at Law today at 760-836-0300 for an appointment to discuss your estate plan.
