5 Crucial Steps in Inland Empire Probate Process — Probate Attorney

Planning to make a comprehensive estate plan? Your family members and well-meaning friends must be giving you several pieces of advice. However, they may have forgotten to tell you the importance of probate which is the most important part of an estate plan. In order to understand why ignoring probate is such a sought after estate planning goal, you should have a better understanding of the Inland Empire probate process (California). Nevertheless, the legal process of the probate is unique for each estate involving some major steps:

Submitting the Last Will and Testament

The law demands the person who holds the decedent’s Will to submit it to the relevant court after notification of his/her death. If you are appointed as an Executor of the Will, you need to file an appeal to present probate and ask the court to designate you as the spokesperson of the estate officially. If the person dies without writing a Will, any responsible adult may appeal to become the Personal Representative of the estate.

Identifying, Establishing, and Securing Estate Assets

After the decedent’s death, the personal representative or executor should start identifying, establishing, and settling the decedent’s assets. The estate asset may involve personal property and tangible and intangible assets.

Categorizing Assets

Remember, not every asset is obliged to go through the probate process. Though, decedent’s estate assets should be categorized as probate or non-probate assets. Some of the common examples of non-probate assets are as follows:

· Trust assets

· Retirement benefits

· Proceeds of a life insurance policy

· Specific types of jointly held property

· Accounts designated as “transfer on death” or “payable on death”

Valuing assets

The personal representative or executor must acquire a “date of death” value for all estate assets (except non-probate). Usually, expert appraisers are hired to help value estate assets.

Notifying Creditors

Creditors of the decedent’s estate should be informed that probate is underway so that they can file claims against the estate. Besides, known creditors need to be informed personally; while unknown creditors are informed by publishing declaration of the probate in a newspaper.

If you are looking for a probate attorney in Inland Empire, contact Michael C. Maddux who is known for providing the most reliable legal services at the highest professional level.