Probate and Settle an Estate in California, 3E (How to Probate and Settle An Estate in California)

While probate is a complicated court process, Probate and Settle an Estate in California can help you understand, prepare for, and work through the steps necessary to handle both property that is subject to probate and property that is not subject to probate in the state of California. Written in an easy-to-understand manner, this book will give you confidence as you navigate the probate court system. From dealing with creditorsвЂTM claims and changing property ownership to transferring assets and handling estate taxes, Probate and Settle an Estate in California covers the essentials you need to close an estate. Title Page 2 Copyright Page 3 Contents 4 Using Self-Help Law Books 8 Introduction 12 Chapter 1: An Overview 14 Finding the Law and Using Court Forms 14 Types of Property 16 Assets that Must be Probated 17 Assets that Do Not Have to be Probated 17 The Personal Representative 18 Income Taxes 19 Estate and Inheritance Taxes 20 Using a Lawyer 20 Funeral Arrangements and Other Immediate Tasks 21 Chapter 2: Transferring Nonprobate Assets 22 Joint Tenancy and Right of Survivorship 22 P.O.D. Bank Accounts and T.O.D. Brokerage Accounts 29 Life Insurance, Annuities, Pensions, IRAs, and Private Retirement Accounts 30 Totten Trust Account 31 Living Trust 31 Property Passing to a Surviving Spouse or Domestic Partner 32 Small Estate Distribution 38 Chapter 3: Starting Probate Proceedings 46 Waiver of Right to Act as a Personal Representative 47 Preparing the Petition for Probate 47 Proof of Subscribing Witness Form and Proof of Holographic Instrument 56 Chapter 4: The Hearing 58 Notice of the Hearing 58 The Hearing 61 Order for Probate 62 Duties and Liabilities of the Personal Representative 63 Bond 64 Letters 64 Chapter 5: Personal Representative’s Initial Steps 66 Understanding Fiduciary Duty 67 Marshaling Estate Assets 68 Request for Special Notice 71 Chapter 6: Inventory and Appraisal 72 Types of Inventory and Appraisals 73 Preparing the Inventory and Appraisal 73 Submitting the Inventory and Appraisal to the Probate Referee 79 Filing the Inventory and Appraisal 80 Chapter 7: Handling Creditors’ Claims. 82 Duty to Ascertain Creditors 82 Informal Payment of Debts 83 Giving Written Notice to Creditors 83 Claims Not Covered by the Regular Rules 85 Filing the Creditor’s Claim 86 Allowing or Rejecting a Creditor’s Claim 86 Contesting Allowance or Rejection of Claim 88 Informal Resolution of Rejected Claims 89 Judgments 89 Chapter 8: Family Protection 90 Temporary Family Protection 90 Exempt Property 91 Probate Homestead 91 Family Allowance 92 Small Estate Set Aside 93 Chapter 9: Independent Administration of Estates Act 94 Actions that Cannot be Taken under the IAEA 95 Actions that Can be Taken under the IAEA 95 Chapter 10: Sales 100 Published Notice of Sale 101 Court Approval of Sales 103 Personal Property Sales 104 Real Property Sales 107 Chapter 11: Taxes 118 Income Taxes 118 Income Tax Basis Adjustment 121 Estate Taxes 123 Conclusion 127 Chapter 12: Final Distribution 128 Final Distribution and Closing the Estate 128 Notice of the Hearing 139 The Hearing 140 Order Settling Final Account 140 Final Distribution 141 Glossary 141 Appendix A: Sample, Filled-In Forms 150 Appendix B: Blank Forms 272 Index 350 Back Cover 354 While probate is a complicated court process, Probate and Settle an Estate in California can help you understand, prepare for, and work through the steps necessary to handle both property that is subject to probate and property that is not subject to probate in the state of California.

Written in an easy-to-understand manner, this book will give you confidence as you navigate the probate court system. From dealing with creditors' claims and changing property ownership to transferring assets and handling estate taxes, Probate and Settle an Estate in California covers the essentials you need to close an estate.