What is probate? In its simplest explanation, probate is the legal process that takes place after someone passes away.
However, there are several aspects of probate proceedings that get more complicated. So, we will be exploring everything to break it down and help you to understand how it can affect you and your loved ones in the article below.
What Is Probate?
Not everyone who passes away has their estate pass through probate. In California, you can go through a simplified procedure if the value of your estate amounts to $166,250 or less.
Otherwise, probate involves lawyers, judges, executors, or court-appointed officials to organize and coordinate your estate, including debts after death.
With all of that in mind, probate is typically not financially beneficial to the inheritors as the estate will get reduced due to court costs and probate lawyer fees, etc.
So, what does probate mean exactly? It is an important procedure for people who have large estates, complicated debts, and/or multiple properties.
How Does it Work?
In the event of your death, the executor named in your will goes to the local probate court to validate your will. If you die without a will, a person is appointed by the judge to handle this process.
A list of your property and possessions is presented alongside any outstanding debts and who will inherit these things.
Depending on debts and requests made in the will, possessions may need to be sold to settle these things as necessary and the executor will be responsible for this.
Once everything is in order, the judge can approve the transfer to the new owners.
Why Hire a Probate Attorney?
With the probate meaning and process outlined above, you may be wondering why it is necessary to hire a probate attorney?
The reality is most people named as executors or close friends and families who may be appointed to carry out probate proceedings will not be familiar with the process.
Having a good probate attorney will help you navigate the procedures, and they can likely get you the most favorable outcomes at each point in the proceedings.
For those searching for a Los Angeles probate attorney to help them get the greatest value after probate, hiring a lawyer from Keystone Law is an excellent choice as they are experts in the field.
But don’t wait until it’s too late and you are desperately searching for help. Speaking to a probate lawyer now may help you to prepare your estate and will for the best outcomes.
Start Planning Now, So Those You Love Won’t Need To
So, what is probate? The truth of the matter is probate can be planned for in advance with a little professional help and some careful preparations.
We hope this resource has given you greater clarity on the process and what you can do to make it as simple and straightforward as possible.
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