Bakersfield Probate Attorney
The Law Offices of Young & Nichols
Probate is the legal process of administering the estate of a deceased person according to their will, including any taxes still owed by the deceased. If an estate is worth $50,000 or less – not including homestead and exempt property – it may not require this process. In this case, assets may be transferred by affidavit procedure rather than through the larger probate process.
The affidavit process may appear overwhelming and confusing. With over a century of combined legal expertise, the attorneys at The Law Offices of Young & Nichols can assist you during this important period. For experienced legal guidance, please call our Bakersfield office at 866-327-9661 to speak with one of our experience probate attorneys today.
Understanding the Probate Process
This process is required if the estate is worth more that $50,000 or if the deceased does not have a will. Bank accounts, stocks, bonds, and more will be unavailable to the surviving family until the probate process is carried out. Likewise, your heirs could not cash monies owed to you such as dividend checks. Many of the costs and fees associated with this process are based on the fair market value of the holdings you held at your death.
A petition can be filed by the will’s executor to begin the probate process; the original will is filed with this petition, and notice of the petition is sent to all of the descendants or heirs. Usually an heir, relative, or creditor of the deceased can petition the court. The petitioner must arrange for the Notice of the Petition for Probate to appear in the newspaper where the deceased resided at the time of death.
During the court hearing, objections based on the validity of the will may be brought up. This must be done within 120 days after the will has been admitted. Meanwhile, the personal representative must take care of posting a bond and any creditors, bills, and taxes. He or she must also complete an Inventory and Appraisal to describe each asset and file it with the court.
The court then appoints a Probate Referee who appraises the assets and determines the fair market value. Creditors must submit their claims within a four-month period, and the personal representative accepts or rejects each claim.
After the personal representative has fulfilled his or her duties, they are usually required to submit an accounting of the executioner's activities. This will request permission to have probate help and distribute the remaining estate.
Find the Right Probate Attorney at Young & Nichols Today
This process is obviously very complicated, but you do not have to do it alone. It is advisable to get probate help to help you with the finer details of this process and make sure everything is being carried out properly. Our attorneys have over 100 years of combined experience, and there is an experienced probate attorney waiting to help you.
If you have recently lost a loved one and need to execute their will, contact our office to speak with an experienced Bakersfield probate attorney. For immediate legal assistance, call our Bakersfield office at 866-327-9661 for a free consultation.
