In Part 2 of our series of Probate Process Blog posts we discussed (1) preparing and filing the Petition for Probate, (2) gathering assets and information, and (3) preparing an Inventory and Appraisal. In this Blog post, we will discuss (1) selling assets during the probate administration, (2) preparing the Final Report and Account, and (3) the distribution of assets to the beneficiaries. Selling Assets During the Probate Administration Many people are under the misunderstanding that all of … [Read more...]
Riverside Probate Lawyer Discusses Probate Process Part 2
In our post Riverside Probate Lawyer Discusses Probate Process Part 1, we discussed what a probate is, what an executor, administrator, and personal representative is, the various probate procedures for small estates (less than $150,000) and the spousal property petition. Now we will dig into the process relating to a formal probate proceeding. Preparing and Filing the Petition Before you file your petition for probate, you will want to make sure you have gathered all your information. You … [Read more...]
Riverside Probate Lawyer Discusses Probate Process Part 1
Probate is the Legal Process to Transfer Title of a Decedent's Assets Probate is the legal process of transferring assets owned in a deceased persons name to his or her legal heirs. Before the assets can be transferred, (1) any creditors of the decedent must be given notice of death; (2) an inventory of the decedent's assets must be taken; (3) it must be determined if a valid Last Will and Testament exists; (4) creditor claims must be accepted, partially accepted or denied; (5) assets may be … [Read more...]
