Saturday, December 26, 2009

Probate Lawyers California

Probate is a process designed to effectively administer the assets and estate of a person who is dead. This person might have left a will or not, the probate process will start. In this process a person is authorized to handle the assets till the probate is complete and the assets/estates are distributed. The probate lawyers California can handle this case in a positive manner to get the assets as per the will. The probate lawyers California also try to validate the legal heir, if the will does not exist. The probate lawyers California take up the case to protect the rights of the legal heirs.

There could be some distant relatives claiming a share of the property. The probate lawyers California need to carefully study the relationships and their validity.

Once the probate is initiated, the assets, debts, taxes due to the government, liabilities are listed. All the debts and expenses are deducted from the deceased�s property. The balance property is identified for distribution to the legal heirs/beneficiaries as per the law.

The cost of probate differs from state to state and is dependent on the complexity of the will, claimants and the size of the estate. The probate lawyers California observe that this could be around 4% to 7% of the total estate value and sometime a costly affair too if the will is contested.

The probate lawyers California explain that there are number of fees/costs involved in probate. The are Appraisal costs, Executor�s fees, Filing fees for the court , Surety bond fees, Legal fees, Accountancy fees et. All these add up to a bigger sum.

If the will is left behind, it generally indicates who may be the executor. The executor may be a lawyer or non-lawyer or the beneficiary himself. The executor is paid 2% of the estate. Some times the probate lawyers California could be the executor.

The probate process is handled in the area where the deceased was the resident resided permanently at the time of death. And you will find probate lawyers California very helpful. Take the help of the probate lawyers California to create a Will to ensure proper transfer of your estate smoothly to your family.