If you are considering getting your estate plan in order, it will be important to distinguish the differences between probate and non-probate assets.
As someone dealing with matters of the estate in California, you will simultaneously be dealing with someone else's assets. But what exactly are the assets you're meant to handle? How do you know what is or isn't an asset, and how do you distribute said assets?
As we have discussed in recent posts, your will planning can be more complex than the straightforward end-of-life wishes you may be accustomed to hearing about. There are some types of wills that can be upheld in California probate court but may still not be a good idea because they can be easily contested.
When people become the executor of an estate in California, they may be overwhelmed at the task ahead of them. There are a few ways people can make this task manageable for themselves and keep track of their duties.
California residents who are being proactive about their estate planning and wanting to create or update their will may want to give careful consideration to who they will select to be the executor and even the backup executor of their estate. It might seem logical for one spouse to name the other or for a surviving spouse to name an adult child who happens to live near them but these may not necessarily be the best choices. It is very important that the person selected to be the executor actually be capable of carrying out all of the tasks involved in the job.
As an executor in the state of California, you'll likely need to go through the process of probate. This can be a complex and tricky procedure for anyone who hasn't experienced it once before. The Law Offices of Roshni T. Desai are here to help you through the entire process and explain exactly what you, as the executor, need to know.
Some California residents may not consider what will happen to their belongings if they die without a will. These assets are usually still given to a person's family members but it generally becomes the state's job to distribute these assets.
When you administer an estate in California, you may think that your job starts once your loved one has died. Sometimes, though, your duties may start before your loved one's death if you have been granted power of attorney.
As an executor in California, it's your duty to oversee many different aspects of your loved one's estate. This includes going through probate if necessary. Though probate can be tricky, the Law Offices of Roshni T. Desai is here to help you through it.
If you are a trustee, you may have a lot of questions about your role. As a trustee, you are the legal owner of the assets in the trust. Your core responsibility is to handle all manners involving the assets, including distributing them to beneficiaries.