Avoiding Probate in Oceanside, California

The probate process can be challenging and complex due to the conditions. The administration of the decedent’s estate, any trusts he or she may have, as well as any guardianships or conservatorships in question, will be assisted by an Oceanside probate attorney.

A probate lawyer will help guarantee that the rights of the deceased are completely respected because probate matters can get highly complex. Additionally, lawyers are aware of typical probate issues and are sensitive to family relations.

You can choose from a number of possibilities if you want to discover how to avoid probate. However, hiring legal assistance is the most important initial move you can undertake in avoiding probate. Our Oceanside probate lawyer can go through your situation with you and collaborate to develop an effective plan. Please get in touch with us right away!

Why do I need a Probate Lawyer in California?

When you avoid Probate, you also avoid the legal nightmare it brings. Probate may be a difficult and frustrating procedure that calls for attending numerous court appointments, filling out extensive paperwork, and having a firm grasp of the law. In reality, the entire procedure can be a “legal nightmare” for the average individual, and dealing with estate-related issues may be the last thing you want to do after losing a loved one. An inexperienced person just cannot handle the task.

However, by working with a probate lawyer, you can completely avoid going to court because they can handle all of those matters on your behalf. Any oversights, failures to deliver a copy of the petition, or missed deadlines could result in the entire probate process being delayed or possibly coming to an end. An inexperienced individual managing probate could be held liable if something went wrong.

Give Century Trusts & Estate Planning, PC a call, if you need to speak with a California Probate lawyer and, are looking for a probate lawyer. Our legal team will develop a detailed strategy representing your family’s preferences and wishes for how the probate process should develop or be avoided. Call us right away!

What is Probate?

The legal procedure known as “probate” is used to divide a deceased person’s assets in accordance with their will. A judge will preside over a series of hearings during the probate process to:

• Determine and demonstrate the will’s validity;

• Create a list of every item the decedent owned;

• Make sure that all debts and estate taxes are paid; and

• In accordance with the decedent’s wishes and any relevant state laws, distribute all assets.

In general, the estate executor is in charge of starting the probate procedure and allocating the assets of the estate to the beneficiaries. Any party interested in the estate may start the probate procedure if the executor forgets to do so. 

The court will appoint an executor of its own to manage the probate procedure if no executor was specified in the will or if the named executor is unable to carry out the role. The term “administrator of the estate” describes this individual. Executors and administrators carry out the same duties, including:

• Identifying and putting into categories the assets to be allocated;
• Ordering the transfer or release of assets;
• Notifying the court of any disputes or problems;
• Addressing all estate taxes and debts; and
• Collaborating closely on many issues with the probate judge.

How to Avoid Probate?

Many individuals would prefer avoiding probate. The following are a few of the most typical reasons for this:

• It may be expensive;
• It takes a lot of time, and
• The privacy of the matter is not protected by probate because the procedures are public records.

Having their children escape probate, will ensure that the decedent’s children receive the majority of the inheritance rather than having to forfeit any of it to cover legal costs during the probate process. Additionally, by avoiding probate, the gift would be available to their children and other selected beneficiaries more quickly.

Probate may be avoided through the use of the following:

Revocable Living Trust

Living trusts were developed to allow people to avoid the probate process. Holding your valuable assets in trust has the benefit of keeping them out of your estate’s probate process after your passing. Because a trustee—and not you as an individual—owns the trust property, it is not included in your estate for federal estate tax reasons. Without going through probate, the trustee can promptly and easily distribute the trust’s assets to the beneficiaries you designated after your passing. You designate who you wish to inherit the property in the trust document, which functions similarly to a will.

Pay-on-Death Accounts and Registrations

Your retirement and bank accounts can be changed to payable-on-death accounts. You accomplish this by completing a simple form and designating a beneficiary. The funds are sent to your beneficiary after your passing, avoiding the probate process. The same applies to vehicle registrations and, in several states, security registrations. Real estate deeds that take effect upon your death are now permitted in the majority of states.

Joint Ownership of Property

A number of joint ownership agreements offer a quick and easy option for avoiding probate when the first owner passes away. No probate is necessary when one owner passes away; the property simply passes to the remaining joint owner. You would specify how you want to hold title on the document that proves your ownership (a real estate deed, for instance) in order to take the title with another person in a way that will avoid probate. Typically, no additional documentation is required.

Owning the following property will help you avoid probate:

• Community property with right of survivorship. California is a community property state, which indicates that unless they take certain precautions to separate the property, spouses and registered domestic partners typically possess all property obtained during the marriage jointly. When one spouse or partner passes away, an asset automatically passes to the surviving spouse or partner if spouses or partners hold title to it as community property with the right of survivorship.

• Tenancy by the entirety. Married couples are the only ones eligible for this type of ownership. Each spouse has complete ownership of the property in a tenancy entirety. The interest of the first spouse expires at death. The property is still entirely owned by the surviving spouse. Probate is not required.

• Joint tenancy. When one owner of a joint tenancy dies, the property automatically goes to the surviving owners. Probate is not required. When couples (married or not) buy real estate, vehicles, bank accounts, or other significant property together, joint tenancy frequently works effectively. In California, each joint tenant owner is required to have an equal portion of the property.

Transfer-on-Death Registration for Securities

Transfer-on-death (TOD) stock and bond registration is permitted in California. This is a frequent way for people to keep brokerage accounts. When an account is registered in TOD (also known as the beneficiary) form, the beneficiary you designate will automatically inherit the account upon your passing. The beneficiary will transfer the account straight to the brokerage firm; no probate court proceedings would be required.

Transfer-on-Death Deeds for Real Estate

California permits you to leave real estate through transfer-on-death deeds. These deeds are frequently called beneficiary deeds. The deed is signed and recorded now, but it won’t go into effect until you pass away. The beneficiary you choose on the deed has no rights until your death; you are free to revoke the deed at any time or sell the property.

Transfer-on-Death Registration for Vehicles

Vehicle registration transfers upon death are permitted in California. When you register your car in this way, the beneficiary you designate will immediately receive ownership of it upon your passing. No probate court proceeding will need to be made.

Gifts

Giving away property while you are still living helps you avoid probate for the very straightforward reason that it does not have to go through the probate process if you don’t own it when you pass away. As a general rule, the larger the monetary worth of the assets that undergo probate, the higher the expense. This minimizes probate costs.

Simplified Probate Proceedings

Many states have been gradually eliminating some of the more burdensome aspects of probate. They have established classes of assets and beneficiaries who are exempt from going through a full-fledged probate court process. You should not worry excessively about avoiding probate if your family can benefit from these proceedings after your passing.

For one or more of these categories, almost every state has some type of simplified (summary) probate or out-of-court transfer procedure:

• Small estates. For small estates, most jurisdictions offer expedited probate court processes; nevertheless, what constitutes a small estate varies greatly from state to state. Your heirs may still be able to take advantage of the streamlined procedures in many states even if your overall estate is too large to classify as a small estate provided the amount that ends up going through probate is below the threshold.

• Personal property. Many states also permit people to collect inherited personal property (i.e., anything other than real estate) if the estate is small by completing an affidavit under oath and giving it to the owner of the asset. A death certificate and a copy of the will are typical examples of the proof that the beneficiary must present to demonstrate his or her entitlement to the inheritance.

Property left to the surviving spouse. No probate is required if the surviving spouse receives less than a specific amount of property.

Call our California Probate Attorney Now!

The best approach to make sure your loved ones avoid the hassle of the probate procedure is to have a thorough estate plan in place. An experienced lawyer can examine your unique situation with you and collaborate on developing an excellent plan.

Century Trusts & Estate Planning, PC’s California probate lawyers have a wealth of expertise dealing with people and their families to bring comfort and make sure their goals are met.

In addition to Oceanside, our law office may be able to offer you excellent legal assistance even in the areas of Carlsbad, Vista, San Marcos, Escondido, Fallbrook, Encinitas, Solana Beach, La Costa, Leucadia, and Cardiff. Make an appointment with us right away to protect what you’ve earned and built for the ones you love.