Los Angeles Probate & Trust Administration Blog

Probate Discount

noreply@blogger.com (Christopher R. Twining, Esq.) — Tue, 04 Oct 2011 16:17:00 +0000

With the California's Economy being so slow I am currently offering my own form of economic stimulus. I am offering a new deal for new Probate customers. If you end up being appointed the personal representative of decedent's estate, the estate meets certain requirements detailed below, and have retained my firm, I will give you a 5% discount off of statutory attorney's fees. Subject to certain requirements after the jump.

In order to qualify for the discount there are certain conditions.

Estate must require a "full blown probate" where statutory fees are available.

Estate must be solvent – i.e. have enough money to pay attorney fees

Estate must have at least $200,000 in assets

Estate must consist of ten items or less of property – ten accounts –

Discount does not apply to any extraordinary compensation for extraordinary services. (ie selling a residence through probate, disputes etc. )

Additionally we always reserve the right to refuse a case, and will do so especially if the possible client ends up not being the right person to serve as the decedent's personal representative. Also this only applies to estates that have to be probated in California, which usually means the decedent was a resident of California at the time of his or her death.

ABOUT CHRISTOPHER R. TWINING Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWININGLAW OFFICES OF CHRISTOPHER R. TWINING1440 VETERAN AVENUE, SUITE 509LOS ANGELES, CALIFORNIA 90024(310) 492-5990 Fax (310) 775-9774http://www.twininglaw.com

Congress Resolves 2010 Thorny Death Issues

noreply@blogger.com (Christopher R. Twining, Esq.) — Mon, 07 Feb 2011 20:16:00 +0000

Congress and the president finally acted passing new Estate Tax legislation. The new bill signed into law by President Obama on December 17, 2010.

Most importantly the bill ended the uncertainty and thorny issues that many middle class estates for 2010 deaths were going to have. Essentially the bill created an option for 2010 deaths to utilize the existing no estate tax but limited step up in basis rules or use the new 2011 and 2012 rules which consist of a $5 million dollar Applicable Exclusion Amount for individuals with a 35% for anything above the AEA.

This bill is a blessing for middle class estates because they will now be able to shelter $5 million free from the Estate and Generation Skipping Transfer Taxes and keep an unlimited step-up in basis. This means beneficiaries and heirs selling inherited property will be able to do so capital gains tax free.

Many heirs of High Net Worth individuals who passed in 2010 will likely choose to use the old no estate tax system even with its limited step up in basis for capital gains because the long term capital gains rate is 15% instead of the 35% rate for estate taxes.

But for middle class families the new legislation is a blessing as it vastly simplifies things. Most families will now owe no Estate Taxes for 2010 deaths and be able to sell inherited property with a stepped-up basis. Additionally, this will avoid the issue of trying to prove the basis of property acquired by a decdedent decades ago. This has surely made life easier for heirs and IRS agents alike.

ABOUT CHRISTOPHER R. TWINING: Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990

CHRISTOPHER R. TWININGLAW OFFICES OF CHRISTOPHER R. TWINING1440 VETERAN AVENUE, SUITE 509LOS ANGELES, CALIFORNIA 90024(310) 492-5990 Fax (310) 775-9774http://www.twininglaw.com

2010 Deaths Create Thorny Estate and Income Tax Issues

noreply@blogger.com (Christopher R. Twining, Esq.) — Mon, 15 Mar 2010 22:50:00 +0000

Today I want to talk about some misconceptions that are floating around regarding the administration of estates for individuals who have or will leave us in 2010.

Many people are aware that since Congress failed to act the Estate Tax and Generation Skipping Transfer Tax are repealed for this year only. While this is certainly true for the time being, there are a number of pitfalls to watch out for. Before you decide that there is nothing to do as an executor/ administrator or successor trustee of a deceased loved one consider the following.

Congress can still reinstate the Estate Tax and Generation Skipping Transfer Tax retroactively
regardless there is only 1.3 million in stepped-up basis available.

First, as stated above all authoritative commentators that I am aware of indicate that Congress can retroactively enact legislation reinstating the Estate Tax and Generation Skipping Transfer Tax. Estate tax returns are due generally 9 months from the date of death. This means that for people dying on January 1, 2010 their returns aren't due until approximately October 1, 2010. Even assuming that Congress lacks that authority expect both Congress and the Department of the Treasury to take the position that it can. Therefore, one would likely be tied up in expensive litigation for years before prevailing on this issue. For most people not inheriting vast fortunes( in the tens of millions) it is probably not going to make sense to fight the IRS on this one.

Second, Congress left a little doozy in the legislation that repealed the Estate Tax. Congress still wanted the taxman to get his pound of flesh so he altered the system. Previously, all property inherited received whats known as a "stepped-up" basis to the value of the property on the date of death or an alternative valuation date. This meant that if the heirs had to sell property they would essentially never pay any capital gain income taxes on the sale of the property. Now however for 2010 decedents can only pass along $1.3 million worth of this "stepped-up basis." So many heirs inheriting estates that have a value above $1.3 million but below the $3.5 million applicable exclusion amount of 2009 are actually far worse off.

The combined worries create several problems for personal representatives of people who died in 2010. For one there is a great deal of uncertainty about the Estate Taxes. Most attorneys will advise their clients to file for the automatic extension. Additionally, distributions to heirs will likely take longer this year. Likewise, it will be difficult for heirs to actually determine what their basis in inherited assets are (if in excess of the $1.3 million allowed currently). Finally, there now exists a difficulty for the personal representative to allocate the "stepped-up" basis. Particularly for anyone acting as a successor trustee this will create thorny issues. Trustees as fiduciaries owe beneficiaries duties of impartiality. This means that successsor trustees may have to allocate the precious "stepped-up" basis in a fair manner. Trustees of larger estates will likely seek court instructions. As usual the more modest Estates will be more murky as successor trustees will be less inclined to seek instructions of the court due to the expense involved.

ABOUT CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWINING
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com

County Auctions Personal Property of Intestate

noreply@blogger.com (Christopher R. Twining, Esq.) — Wed, 06 Jan 2010 19:16:00 +0000

Ever wonder what happens to your stuff ( personal property) when you die if you don't have a will and don't have any heirs?

A recent LA Times Article reveals the answer: The County of Los Angeles will auction off the items to the highest bidder at one of several auctions that occur 10 times a year.

If you die in Los Angeles County without heirs or a will, your worldly belongings will probably end up here, in a 122,000-square-foot warehouse along the railroad tracks in the City of Industry, protected by surveillance cameras and extra security. The walls are piled high with hundreds of 7-by-5-foot wooden crates. County employees and private auctioneers break open crates, divide the contents into lots and sell them at daylong auctions held on the second Saturday of the month, typically 10 times a year. Proceeds go back into the estate and often are used to cover burial expenses and other costs. Whatever is left goes to the state of California.

I personally take the position that one would rather make arrangements ahead of time and benefit a charity that does work which is meaningful to you rather than the State of California. Although, the state needs all the money it can get it would seem like one might want a greater control over where the proceeds would go.

ABOUT CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWINING
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com

My Advice to California fiduciaries

noreply@blogger.com (Christopher R. Twining, Esq.) — Wed, 02 Sep 2009 20:07:00 +0000

I am taking the occasion today to write a post to all those wood be fiduciaries out there. Fiduciaries include all those who serve as successor trustee, attorney-in-fact under a durable power of attorney for health care or financial matters, agent for healthcare, etc.

Recently, I have become involved in quite a lot of litigation involving the potential financial abuse and or breach of fiduciary duty by a successor fiduciary. This can take the form of a petition to appoint or remove a successor trustee, a petition for probate conservatorship of the person and/or estate.

It almost always plays out the same way . Usually, I am approached by the loved one of an elderly person. Usually the fiduciary who is alleged to have acted wrongly ( i.e. breached their fiduciary duties to the principal, is either a family member or a friend/ caretaker of the elderly person. In several current cases the fiduciary has been acting in secrecy. Either hiding important decisionmaking, etc. or blatantly refusing to turn over information. In some cases the alleged financial abuser is living in the principal's residence or some other real property they happen to own or beneficially own, rent free.

This is potentially a breach of the duty of loyalty, which requires that a fiduciary put the interests of their principal ahead of their own. There may be some circumstances in which it would be appropriate for a principal to live in someones house or apartment rent free and it wouldn't be a breach of fiduciary duty. However, only an attorney or really rather a probate judge can make that determination.

In many of these situations the accusers lack information so its mainly a case of hearsay and conjecture until facts are obtained either through formal discovery, factual investigations, or just as a result of being appointed conservator of the person and or estate. But all these cases share one thing in common; the accused financial abuser has not been acting transparently ( i.e. have not been letting all the other beneficiaries and family members know what is going on. Additionally, they should provide accountings when compelled and generally keep all those people informed. To hide things or not disclose all sorts of these things only leads to suspicion.

Occasionally, there are reasons to keep information like this from one or more particular family members or other interested parties. However, in the vast majority of cases if the fiduciary has done no wrong (i.e. not breached any fiduciary duties) they should have no reason not to keep everyone informed! So my advice to all fiduciaries is unless there is a good reason not to, make sure you keep all interseted persons informed of everything that you are doing on behalf of a principal and let them know your reasons for decisions.

ABOUT CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWINING
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com

What happens when a person dies without a will in California?

noreply@blogger.com (Christopher R. Twining, Esq.) — Fri, 07 Aug 2009 19:56:00 +0000

What happens when a person dies without a will in California?

Answer: When a person dies without a will the person is referred to as having died intestate. . The dead person’s property is then supposed to be divided according to the laws of intestacy. The laws of intestacy in California are found in the California Probate Code sections 6400 et. Seq.

This also means that if the person who died, also known as the decedent, left any significant property, then a formal probate administration will be required. Otherwise if the person left less than $100,000 in total property a summary probate petition can be used. (link to other page). Usually a relative, or close family friend will petition the probate court to be appointed as administrator. An administrator is the name for the personal representative appointed by the court in a probate where the decedent died intestate ( without a will). This is in contrast to an executor who the court approves but whom was nominated in a will. Both an administrator and an executor fill the same duties during a probate.

Unfortunately, being that a formal probate is now required it will result in significant fees and costs that could have been avoided with a revocable living trust and a pour-over will. The fees which both a personal representative (either an administrator or an executor) are entitled to as well as the attorney for the personal representative, are entitled to are set by statute. Additionally, the fees are based on the gross value of property and are not netted out to take encumbrances (mortgages and other debts and liens) into account.

Also, if the person left children under the age of eighteen, there will usually be a guardianship petition where again a relative or close family friend will petition the court to be granted guardianship of the children who are still minors. If the person had executed a will there still would have been a guardianship proceeding that would be necessary but the court would give strong preference to whom the dead person had named to be guardian in a will.

ABOUT CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney,. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWINING
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com

A Common Myth About Revocable Living Trusts

noreply@blogger.com (Christopher R. Twining, Esq.) — Fri, 19 Jun 2009 07:27:00 +0000

As an Estate Planning Attorney, I often run into Myths people have about revocable living trusts. One of the most common ones is that nothing needs to be done when a grantor aka settlor dies. However, this is certainly not true. While a revocable living trust can help you avoid a full blown probate and its attendant intrusions into privacy, huge professional fees and duration, it does not mean that there is nothing to do upon the death of a settlor

Among some of the things that usually have to be done by a successor trustee are:

order timely appraisals of all trust assets

prepare and file a final income tax return for the person who passed away

obtain a taxpayer identification number from the IRS

Provide notice to Medi-CAL

fund subtrusts or atleast prepare separate accounts

execute certain documents

lodge the pour over will with the clerk of the county court

preparing statutory notices to beneficiaries

The above list is by no means exhaustive, there are many more things that a trustee may be legally required to do. But I think you get the point. There are still procedures of legal significance that need to be done upon the death of a settlor. Failure to do some of these things leave a successor trustee open to liability for breach of fiduciary duties.

So its not that the use of a properly funded revocable living trust avoids any and all costs associated with the handling of ones affairs. However, in the ordinary situation the fees charged by an attorney should be far less than the statutory fees for probate which by the way are calculated on the gross value of property and not the net ( meaning mortgages do not discount the value the percentage is based on).

ABOUT CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWINING
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com

Los Angeles Probate Forms California

noreply@blogger.com (Christopher R. Twining, Esq.) — Thu, 07 May 2009 17:30:00 +0000

Los Angeles Superior Court Forms and California Judicial Council Forms used in a typical Probate. These are also all the forms that you get in the Probate Packet from the Los Angeles Superior Court.

1. Probate Case Cover Sheet PRO-010**
2. Petition for Probate DE-111
3. Notice of Death and Petition to Administer Estate DE-121
4. Proof of Subscribing Witness DE-131
5. Proof of Holographic Instrument DE-135

6. Order for Probate DE-140
7. Letters DE-150
8. Duties and Liabilities of Personal Representative DE-147
9. Confidential Supplement to Duties and Liabilities DE-147S
10. Application and Order Appointing Probate Referee PRO-001**
11. Inventory and Appraisement DE-160
12. Schedules to Inventory DE-161

ABOUT CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration , and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWINING
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com

The Importance of Beneficiary Designations for Retirement Plans and other accounts

noreply@blogger.com (Christopher R. Twining, Esq.) — Tue, 03 Feb 2009 23:27:00 +0000

A case recently recently decided by the U.S. Supreme Court highlights the importance of making and correcting those beneficiary designations on those retirement plans and other accounts.

Karri Kennedy, the daughter of a former Dupont Inc. employee had sought her share of her father's retirment plan benefits. She claimed that he had said that he wanted it to go to her but had never changed his beneficiary designations despite getting a divorce from Karri's mother. Instead the court ruled that the mother was entitled to the retirement plan as the designated beneficiary.

Even the United States Supreme Court thinks that beneficiary designations are important. They are so important and too many estate planning attorneys never advise their clients to pay attention to them.

ABOUT CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWINING
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com

Summary Probate Procedure : Petition for order of succession to real property

noreply@blogger.com (Christopher R. Twining, Esq.) — Fri, 30 Jan 2009 00:48:00 +0000

A petition for order of succession to real property and additional personal property( not more than $100,000 of property), California Probate Code §§13150-13158 is one of the simplified probate procedures.

It is an appropriate means of transferring both real property and personal property without a need for a "full blown probate" that can be used when the total amount that would pass is equal to or less than $100,000 and the decedent either leaves no outstanding debts or those claiming under the petition will pay those debts.

Among those assets that are not counted towards the $100,000 section 13150 limit are:

Joint Tenancy Property
Community Property with a Right of Survivorship
Property held in a revocable trust
Joint Accounts and P.O.D. Accounts
Life Insurance Proceeds if Decedents life was insured
Retirement Account Proceeds if a Beneficiary was named
Salary of $5000 or less

The following judicial council forms are required:

DE-310 - PETITION TO DETERMINE SUCCESSION TO
REAL PROPERTY (Estates $100,000 or Less)
DE-160 -INVENTORY AND APPRAISAL
DE-315- ORDER DETERMINING SUCCESSION TO REAL PROPERTY
DE-120 - NOTICE OF HEARING - DECEDENT'S ESTATE OR TRUST

The basic process is as follows:

First you have to have the property appraised. For Real Property a Probate Referee has to do it. You can check the California State Controller's Office website for a list of Probate Referee's in your area. You can contact them directly and inquire how they want you to send them the DE 160. A small fee will be due so keep that in mind. When the probate referee returns the DE-160 to you it will have a value that he has appraised the real property to be worth. If this number when combined with any personal property valued is equal to or less than $100,000.00 then you can proceed with a 13150 petition.

Next you will fill out the DE-310 PETITION TO DETERMINE SUCCESSION TO
REAL PROPERTY (Estates $100,000 or Less), pay the court filing fee and file it along with your now returned DE-160 with the appropriate Probate Department of your local Superior Court of California. You will also need copies of death certificates. And if the petitioner is claiming under a will you will need copies of the will to attach to the petition.

At the same time as you file the retunred DE-160 you must file a Preliminary Change of Ownership report with the county assessor's office or incur penalties.

You will get confirmation of your filing and usually should request a conformed copy by providing an additional copy when you file. The court will schedule a hearing date for you. Write down the date, time and location of the hearing. You will then need to mail a NOTICE OF HEARING - DECEDENT'S ESTATE OR TRUST along with a copy of the petition to the people you listed as potential heirs in the petition.

You will have to file a signed DE-120 where you attest to proof of service before your hearing as well as a properly filed out ORDER OF SUCCESSION TO REAL PROPERTY.

If no one contests the petition and all your paperwork is in order you should not have to attend the hearing. You can check the probate deparment's website for a tentative ruling a few days before the hearing.

If a tentative is confirmed check the docket online for a date when the order has been signed. Now you must request a certified copy of the order so that you can take it to the county recorder's office for recording.

Once you record a certified copy of an order the property has been transferred successfully into the hands of the person(s) who petitioned the court and can then be legally conveyed.

ABOUT CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWINING
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com

Avoiding California Probate via Summary Procedures

noreply@blogger.com (Bartal &Twining) — Fri, 23 Jan 2009 08:06:00 +0000

Is there any way to avoid probate to transfer assets to heirs if the decedent did not have a revocable living trust?

Yes provided that all of the decedent's debts are paid by the family a full blown probate can be avoided by using one of the summary probate procedures. This article will summarize the different options available for summary administrative proceedings.

The summary administration procedures in California Probate Code §§13000-13660 are substitutes for formal (full-blown)probate administration when the total value of the estate is small, or when the person entitled to the property is the surviving spouse or registered domestic partner.

Compared with regular probate administration, summary procedures may reduce expenses and the time required to transfer property. Even if summary administration ends up saving time, the person or persons entitled to receive the property are responsible for paying the decedent's debts, at least to the extent of the property received and must also file any required tax returns and pay taxes due.

The most useful summary procedures are: (1) collection of small estates by declaration, California Probate Code §§13100-13116 ( personal property and motor vehicles only) ; (2) petition for order of succession to real property and additional personal property( not more than $100,000 of property), California Probate Code §§13150-13158; (3) transfer of property of "small value" by declaration under California Probate Code §§13200-13210 (not more than $20,000); and (4) passing property to a surviving spouse or registered domestic partner without administration under California Probate Code §§13500-13554.

Please note that the amounts listed do not include many of the assets a person may leave behind. Among those assets that are not counted towards the statutory limits for the various summary procedures are:

Joint Tenancy Property
Community Property with a Right of Survivorship
Property held in a revocable trust
Joint Accounts and P.O.D. Accounts
Life Insurance Proceeds if Decedents life was insured
Retirement Account Proceeds if a Beneficiary was named
Salary of $5000 or less

In Future Posts I will go into greater detail of each of these summary procedures and then update this post to link to them.

ABOUT CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.

CHRISTOPHER R. TWINING
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com