Probate in Orange County
Providing Security and Guidance in a Time of Uncertainty
The death of a loved one is a difficult time on its own and the stresses of Probate in Orange County California only compounds these feelings. I will guide you in this time of uncertainty by educating you on the process and helping you anticipate and deal with unexpected events. As an Orange County California Probate Attorney I will personally guide you through the court supervised process of transferring your loved one’s property to his or her heirs, relatives, or beneficiaries.
Although Probate in Southern California is a complicated process, the I will help you understand the process so you may continue to cope with the loss of your loved one with as little stress as possible. I will help you establish the validity of your loved ones will, become the court appointed representative for the estate, gather information about your loved one’s property and have it appraised, pay debts and taxes, and distribute the remaining property in accordance with the will or California law. Completing all these tasks alone is daunting, but with my guidance you will get through the process as quickly and as smoothly as possible.
What is Probate?
Probate is the court supervised legal process of administering the estate through the appointment of a representative or adminstrator, determination of the validity or existence of the decedent's will, gathering and managing the assets of the decedent, notifying creditors, paying liabilities, and distributing the remaining assets to those beneficiaries specified in the decedent's will, or in the absence of a will, by California's intestacy scheme.
What if there is a will, doesn't that avoid Probate?
If the decedent has used only a Will to plan their estate, there is almost assuredly going to be a Probate proceeding if the estate exceeds a certain dollar value.
How long does a typical Probate take?
A Probate of a small estate may take less than a year, however; the typical Probate Proceeding takes from twelve to eighteen months. This period encompases delays in filing the Probate while the family of the decendent grieves the loss of their loved one, the mandatory four month creditor claim period, and other delays such as appraisal of assets, location of heirs, disputes and court backlog.
How much will it cost to Probate the estate?
California probates are typically very expensive due to fixed fee schedules for filing documents and statutory fees for the executor and attorney based on the gross value of the estate. In addition to these fees, there will be costs for publication of certain notices, and probate referee fees.
Take for example an estate in Orange County consisting of a home worth $500,000.00 (ignoring any mortgage or loans) and a other assets worth $100,000.00 (Stocks, Bank Account, Insurance, ect.) totallying $600,00.00. The statutory attorney fees and executor fees are $15,000.00 each (4% of the first $100,000.00; 3% of the next $100,000.00 and 2% of the remaining $400,000.00). In addition, filing fees are $355 for petitions, of which there may be several in a Probate, but no less than two. There will also be $500.00 or more in publication costs, $500.00 or more in Probate Referee Fees, and certainly some miscellanous fees. For an estate worth $600,000.00 gross, the fees may therefore exceed $32,000.00.
If a family member is the executor, they may, and many times do, waive their right to compensation. In the above example this results in a savings of $15,000.00.
Is this process avoidable?
Avoiding probate is certainly possible and often more desireable in light of the time and expense associated with a Probate. Learn more about avoiding Probate here.
Contact me today for your no cost initial probate consultation.