Thousand Oaks Probate Attorneys
What is Probate?
Probate administration is a court proceeding that generally lasts between 9 months and 1½ years. The basic purpose of a probate is to transfer assets from the dead to the living and pay all debts and taxes of the decedent before the assets are transferred to the beneficiaries. All legal requirements must be satisfied throughout the probate process before a court order will be issued directing the transfer of the estate to the rightful beneficiaries.
Is Probate Avoidable?
Whether a will or an estate must go through a probate proceeding will depend on the facts. Some wills and estates will not have to go into probate because of the size of the estate and other factual circumstances. Generally, probate is required whenever someone dies with assets titled in their own name that exceed $150,000 in gross value.
Because the probate process can be complicated, time consuming and expensive, many people want to avoid probate and spare their loved one’s the headache. Creating a trust is one way of avoiding probate.
Who is the Personal Representative for the Estate?
The executor named in the will acts as a personal representative for the estate, and if there was no will, a court appointed administrator will act as the personal representative. The personal representative is responsible for all aspects of the administration of the estate. Because of all the legal requirements involved in a probate administration proceeding, most personal representatives will hire an experienced probate attorney to assist. The probate lawyers with Family Security Law Group have been helping residents of Thousand Oaks, Westlake Village, Moorpark, and Camarillo for over 35 years.
If you have been named an executer or administrator for a loved one’s estate, contact a probate lawyer in Thousand Oaks, CA at Family Security Law Group at (805) 496-4681.
How Much Does Probate Cost?
Since probate is a court process, court filing fees must be paid before a probate proceeding can be filed in the court system. The court will appoint a probate referee to appraise the value of the assets in the estate and the probate referee will be paid a fee for those services from the estate. The fees awarded to the personal representative (executor or administrator) and to the attorney who represents the personal representative are set by law and based on the size of the estate. The larger the value of the estate the greater the fee.
Aspects of Probate Administration
Some of the aspects of a probate proceeding include:
- Appointment of a personal representative for the estate,
- Filing of an inventory and appraisement of the estate assets subject to the probate,
- Payment of creditors and taxes,
- Sale of assets, and
- Distribution of the estate.
Probate and Publicity
Probate is a public proceeding. This means that the public has full access to everything filled in the probate which would include your will (if you have one), a list of all our assets and their values, the names of people who will inherit and your creditors. That’s why the public knows so much about Whitney Houston’s estate. Most people do not want this publicity and implement a trust which offers privacy.
A probate proceeding will progress much more quickly and with less stress if an experienced probate attorney is a part of the team. Give us a call so we can make your probate situation a successful one.
If you need a probate lawyer in Westlake Village, CA we can help. Our probate attorneys have assisted countless clients from Thousand Oaks, Westlake Village, Moorpark, Camarillo and throughout Ventura County to navigate the probate process.
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