Probate is the formal court supervised proceeding where an estate is
settled. If the decedent engaged in any proper Estate Planning then the
time consuming and expensive process of probate can be avoided. Although some personal representatives can navigate the difficult world of the Probate Courts, most individuals will find the use of a probate attorney essential.
In Los Angeles, a probate petition is filed in the appropriate district
of the Los Angeles Superior Court, in the probate department. Los Angeles superior court has a probate department in most district offices.
In the simplest terms the personal representative will:
account for all the property the decedent owned at his/her death
pay the decedent's debts
pay the decedent's income and estate taxes ( if any )
distribute
all the remaining property to the decedent's heirs or beneficiaries (
either according to the laws of intestate succession or via directions
in the person's last will.)
How long does it take to Probate an Estate in Los Angeles?
If a formal probate is required, it usually will take between seven to
nine months to complete all the necessary steps, unless you are dealing
with a complicated estate. A complicated estate would be either one
with an extraordinary amount of assets or debts, or some sort of will
dispute ( usually fraud, duress, or undue influence).
Are there alternatives to a full blown Probate?
There are many alternatives to a full blown probate estate. There are
simplified procedures for when only a surviving spouse inherits real or
personal property. Also if the total property that would pass through
probate is equal or less than $20,000 there is an affidavit procedure.
If the total real property and personal property that would pass via
probate is less than $100,000 then there is a simplified petition you
can file with the court.
In addition lots of assets do not pass through probate. Some examples
are Joint Tenancy, Community Property with a right of survivorship, so
called pay on death accounts, IRA's with designated beneficiaries.
