After you die, your estate goes into probate and will be administered through the courts. This is done so that all of your debts can be paid along with your taxes. What is left in your estate will then go to those who you have named to be your beneficiaries. A common question is how long does California probate take? The answer varies for each individual as there are different circumstances that can make the process either move quicker or slower.
Additionally, you have options to completely avoid California probate. To learn more about your choices, you should discuss your needs with a Los Angeles estate planning attorney. The importance of putting together just the right estate plan for your needs can not be understated. Your wealth should be managed exactly the way you want it to be after you pass on. Also, you can discuss how to develop the right plan that will ensure you are maximizing your assets so they can seamlessly move to your beneficiaries.
How Long is California Probate?
All property you own that is only in your name will be included in your estate during probate. Your estate will not include trust property, insurance proceeds, or property you own along with another party. The court will determine who the personal representative, or executor, of your estate, will be and it is this party that will manage your estate and will perform the orders given to them by the probate court. Some actions executors take include gathering and itemizing your property so that the court can have a report of your assets.
Once the assets in your estate have been confirmed, they will be liquidated, if needed, and their value will pay for the expenses as well as pay off creditors for whom you still owe a debt. Any amount that remains after these costs have been paid will then be distributed to the beneficiaries that exist. The total amount of time it takes for this process to take place can range anywhere from six months up to two years.
The factors that determine the length of time it takes for your estate to go through California probate include:
- The size of the estate
- Rare or unusual assets which need more time to be assessed
- Miscellaneous issues that arise drawing out the process
- If a will exists
- How many objections by beneficiaries or interested parties exist
- The time it takes for the court to review the final account of the estate
For estates that are simple and small, the court may be the only party that the executor must provide an accounting report. When the last accounting report is submitted, there should be no balance remaining in the estate. The court will then review the report and in the absence of objections, will deem the estate closed. When the estate closes, the executor’s job is now complete.
Do You Have Questions About the California Probate Process?
The California estate planning attorneys, at Leiva Law, can work with you and answer all of your questions on probate or help you set up your California estate plan. Contact the California probate and will lawyers at Leiva Law at (818) 703-1777 to schedule your free consultation today.