Archive for the ‘Probate & Inheritance’ CategoryTransferring Small Estates without ProbateMonday, January 30th, 2012As of January 2012, California law allows inheritors to completely skip probate when the deceased had a “small estate” whose value was no more than $150,000 in ordinary assets and up to $50,000 in real estate. Because numerous items – including cars, jointly owned property, and everything in a living trust – can be excluded in calculating these amounts, this law can help many families avoid the time and costs of going through probate. Here are the steps for a “small estate” transfer. (more…)
Mending Broken Fences with San Diego Trust and Probate MediationFriday, October 28th, 2011If you’re faced with probate or living trust disputes, through mediation you may be able to get the resolution you need to ease the conflict. It’s worked for many San Diego families. Mediation is a process where you and the other parties meet both separately and then together with a mediator, who’s a neutral third party trained to help resolve disagreements. It’s done outside of court, which means you and the other parties are in control of what happens and can agree on your own resolution, instead of having a judge decide for you. It also saves the time and cost of fighting over the issues in court proceedings. Typical probate and trust disputes that can be resolved through mediation, if the parties are willing, include: (more…)
Rogue Wills in California: How the “Harmless Error” Rule Could Affect YouFriday, August 19th, 2011Have you ever heard of a rogue will? If not, that’s because it’s literally what it sounds like: a secret will, not prepared by an attorney, that attempts to change a previous will. To decide if a rogue will is legitimate and enforceable, the California probate court looks to see if it meets all the formal legal requirements for a valid will. However, a California Court of Appeal recently decided that in some situations, the maker’s failure to follow all the legal formalities required can be “harmless error. ” This allows the rogue will to replace the original will, and to change who inherits under the will, and how much they inherit. (more…)
Trust Administration Problems: How to Handle an Ineffective TrusteeFriday, July 29th, 2011Probate can be avoided with a living trust. Once the person who created the trust passes away, the “trustee” (a person named in the trust to assume this role) becomes responsible for “administrating” the trust. This means trustee is legally required to manage and distribute the property of the living trust in the exact way specified by the living trust document. Unfortunately, though, sometimes the chosen trustee is ineffective and must be removed by a court order. In this case, the court will name a different person to be the new trustee. (more…)
What Happens When a Person Dies Without a Will in California?Wednesday, December 22nd, 2010In California, if a person dies without a will or trust, the “intestacy” laws apply. These laws provide a way to determine what happens to property when the deceased person did not create a will or trust stating their wishes. Who inherits the property depends on several factors, such as whether the deceased person was married and whether they had children. Some people believe that a will or trust is unnecessary if their property automatically passes to their spouse and children under the law. However, a will and living trust are especially important for people who are married and those who have children to ensure the simple transfer of property, save on probate fees, and help safeguard a family’s financial future. (more…)
Dying Without a Will or Trust in California: Do You Know What Happens?Friday, May 14th, 2010The decision of who inherits your property (and how) can either be made by you, or can be decided by the State of California. Let’s say that you never create a will or trust. Who would inherit your money and property? Dying Without a Valid Will (Intestacy) If you don’t leave behind any instructions for how you want your property divided (such as with a valid will or living trust), then California law steps in so that the probate court can distribute your property to your heirs. A person who dies without a valid will is said to have died “intestate.” In these situations, California’s intestacy laws apply. These laws decide which family members will inherit by creating a hierarchy. Sometimes things get more complicated, but here are the basics: (more…)
All is Not Done Behind Closed Doors: Accounting to Beneficiaries of a Living Trust or Probate EstateFriday, January 8th, 2010To make sure that beneficiaries to a will or living trust aren’t kept in the dark when it comes to the money being spent, earned, and distributed from the estate, California law requires that certain people who are in charge of handling the estate or trust property provide accountings. The right to an accounting becomes even more important when administering a living trust because there’s much less court oversight than there is when property is distributed by the probate court when a person passes away with or without a will. Every trust designates a “trustee” to handle administration of the trust and distribution of its assets. If a person dies with a will, these responsibilities can fall on the “executor” who was named in the will, and when neither a trust nor a will is left behind, an “administrator” will be appointed for the job. (more…)
Threatening Disinheritance for Challenging a Will or Living Trust: The New California Law on “Will Contests”Wednesday, November 18th, 2009Threats of disinheritance to prevent challenges to a will or living trust are nothing new, but the enforceability of these threats will be affected by new California law. At the start of the new year in 2010, the rules will be changed for challenges brought against wills and trusts if the “testator” (the person who made the will) has included a “no contest clause” in the document. A no contest clause generally says that if you challenge the will and lose the contest, you’ll be completely disinherited under the will, or take a significantly reduced share. For public policy reasons, no contest provisions are not blindly followed by the courts. That’s why even when there is a no contest clause, if the legitimacy of the will or trust (or parts of the document) come into question, it’s sometimes possible to bring a valid challenge in order for the probate court to determine if the deceased’s true wishes are reflected in the will. (more…)
San Diego Union Tribune Reports Jury Deliberating in the Trial of Socialite Brooke Astor’s Son: Was There Fraud in Changing His Mother’s Will?Wednesday, October 7th, 2009After nearly six months, the trial of Anthony Marshall is winding down and jury deliberations have begun, as recently reported by the Associated Press in the San Diego Union Tribune. Marshall, a Broadway producer, is the only son of Brooke Astor, one of New York’s most well known philanthropists and socialites, who died at the age of 105 in 2007, leaving behind an estate estimated to be worth $198 million. The 85-year old defendant stands accused of grand larceny, forgery, and of allegedly defrauding his mother of her estate by making changes to her will when she no longer had the mental capacity to do so, says the Los Angeles Times. (more…)
California Personal Representatives: Getting the Job Done and Avoiding Personal LiabilityTuesday, September 29th, 2009A personal representative’s job is to carry out the wishes of the deceased according to the instructions in his or her will and according to California law. If a person dies without a will, then the personal representative appointed by the court to handle the estate is called an “administrator,” while someone named by the will is called an “executor.” If you’re deciding whether to accept appointment as a personal representative – or thinking about who to nominate in your own will – then you need to know what a personal representative’s duties are during probate and how to fulfill these obligations without putting your personal assets in jeopardy. Recently, much has been made about the many deals struck by the executors of Michael Jackson’s estate. (more…)
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