Estate Planning and Probate
When we hear the words “estate planning probate“, even for those who may not have gone through it, a feeling of dread can ensue. Our head becomes full with ideas of drawn-out legal bureaucracy, paying expensive attorney fees and document filing costs, and ultimately paying very high taxes which one may not have even been expecting.
Probate is the legal process when a court determines if a person dies with or without a will or the court may validate a deceased person’s will. If needed, the court may also assign a person to pay the bills associated with the deceased person’s ‘estate’. When the court assigns a person to help with the estate, we call that person the ‘executor’.
In short, a court case that deals with probate is attempting to :
- determine the existence and validity of will;
- find out who the decedent’s heirs or beneficiaries are;
- determine the value of the property of the deceased;
- identify and handle the financial responsibilities of the deceased person; and
- to transfer the property of the deceased to the appropriate beneficiary or heir.
In a probate case, an executor (if there is a will) or an administrator (if there is no will) is appointed by the court as personal representative to collect the assets, pay the debts and expenses, and then distribute the remainder of the estate to the beneficiaries (those who have the legal right to inherit), all under the supervision of the court. The entire case can take between 9 months to 1 ½ years, maybe even longer.
Advanced Estate Planning with EstateLDA is the best way to Avoid Probate in California
As many are aware, the probate process can be time-consuming, costly, and stressful. The probate process is dreaded by many because of the cost–namely the number of fees charged as part of the process. There is a need to file and pay a range of taxes–federal and state estate taxes, inheritance tax, and more.
The court may also use this time to discover if there are creditors that are waiting to be paid, including income taxes. Creditors need to come forward and stake a claim, if they feel they are owed money.
Only certain assets are subject to Probate like: things solely in the name of the deceased person, 50% of community property that is in both names, the deceased person’s share of a assets that are owned and held as Tenants in Common but NOT when held as Joint Tenancy. At www.estatelda.com we can help eliminate the pitfalls and stress of probate by helping you be proactive in addressing form and other critical legal document matters.
The creation of a living trust can help you avoid interference from probate court, the scene of many unpredictable and unfavorable results for someone who doesn’t plan effectively. As part of your estate plan, we at EstateLDA provide you the tools to create a number of critically important forms, like a living trust, durable power of attorney for finances, an advance health care directive and more in a straightforward, legally-compliant way.
If you are looking to take cost-effective. and time-saving steps to avoid probate, use www.estatelda.com to prepare. your legal documents without hiring an expensive attorney or other legal service firm. We have been doing legal document preparation for many years and are known throughout the industry for our integrity, efficiency, and reliability. Mistakes are not an option at EstateLDA.
Estate LDA has merged your legal document needs with modern technology, allowing you to easily and affordably prepare your documents. Whether you are looking to avoid probate, protect your legacy, prepare a will or a trust, create a power of attorney, health care directive, or estate plan for you and your family’s present and future, Estate LOA is here to help.
Just begin the process by clicking here to get the easy, user-friendly process started.