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Probate can be time-consuming and costly, with legal proceedings often taking years to resolve.
Our experienced team is committed to guiding you through each step, ensuring that all necessary legal matters are addressed and that your loved one’s Estate is distributed as efficiently as possible.
In California, if you pass away with assets valued over $184,500 not held in a Trust, California law will require a process called Probate.
Probate is a Court Proceeding initiated by your family or creditors. This includes proceeding determines:
1. The Existence and Validity of a Will: Was a Will validly executed? What are the Terms of the Will?
2. Financial Obligations: Are there any debts or taxes to be paid?
3. Asset Valuation: What is the total value of the deceased’s Estate?
4. Heirs and Beneficiaries: Who are the rightful inheritors of the Estate?
The California state court oversees this process, which can be slow, time-consuming and expensive. After all creditors, taxes, probate court expense, attorney fees, and other liabilities have been paid, then the remaining assets are distributed to the beneficiaries named in a Will, or to the heirs as determined by law if there was no Will.
In many instances, Probate is initiated by family members when real Estate is involved.
Probate cases often take several years to settle. Meanwhile, ALL PROPERTY AND ASSETS ARE FROZEN. No one can sell any Real Estate titled to the Deceased until the Probate is complete.
Probate costs approximately 6% or more of the Estate’s total value if no disagreements or other issues repeatedly arise. For example, if an individual owns a home valued at $1,000,000 and has $100,000 in liquid assets, the cost to the Estate would exceed $65,000.
Probate is also a public court case where all your personal and financial affairs are made available to the general public.
If this sounds like a nightmare, it is.
We’ve never written a Trust that required Probate at Vanguard Legal Group. However, if Probate has become your reality due to not having a Trust prepared by our firm, our expert team is here to guide you through the process and help ensure your loved one’s Estate is handled with care and efficiency.
Don’t hesitate to contact our Client Services team at 888-995-6014 or using the form below.
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Whether you’re new to Vanguard or an existing client, our dedicated Client Services team is here to support you!
Use the form to tell us about your needs, and we’ll provide the guidance you’re looking for.
