Is Probate Always Necessary in California?
Can Probate be Avoided?
At times, probate can be avoided and whether this is the correct choice for you can be discussed in full with a knowledgeable Los Angeles probate attorney. For some, probate has the advantage of the process being monitored by the courts which can make decisions on disputes between heirs and with creditors. For others, the
cost of probate may seem high and the process can be longer than alternative methods used in administering an estate.
There are estates that do not need to be probated. A primary method for accomplishing this is the use of a living trust. The creator of a living trust transfers the ownership of their real property from themselves to a trust. He controls the trust and can commonly change the conditions of it before his death. When the person is deceased, the beneficiaries become owners of the property of the trust.
Trusts may have additional tax benefits and can keep estate matters shielded from public scrutiny.
Probate Lawyer in Los Angeles
Other possible methods to avoid probate proceedings can be:
- Designating 401ks, IRAs, bank accounts and brokerage accounts as paid on death or transferred on death
- Passing real estate on to a beneficiary through the use of a life estate deed
- Proper naming of beneficiaries on assets, done in such a way as to specifically avoid probate
- Use of the small estate law for estates valued under $100,000
Perhaps the most common and viable method of not having an estate go into probate is the use of a Spousal Property Petition when there is a surviving spouse. At Kerendian & Associates, Inc., we pride ourselves on treating each client as an individual with specific and unique needs and goals. Probate can be a correct legal tool for handling the estates of some individuals. Conversely, others may want to avoid probate if it is at all possible. Our goal is to provide you with the correct legal procedure that will work best for you.
Contact a Probate Lawyer in Los Angeles
to find out if probate is necessary and correct for you.