Probate
Probate
Probate is the legal process of administering and distributing the assets and debts of a deceased person, often based on their will or, if there is no will, California’s intestate succession laws. This process ensures that the deceased person’s financial affairs are properly resolved, and their assets are transferred to the intended beneficiaries.
Probate Process
Filing a petition
The first step in the probate process is to file a petition with the court in the county where the deceased person lived. This petition requests that the court open probate proceedings and appoint an executor or administrator.
Notice to heirs and creditors
Once the petition is filed, the court will issue a notice to all heirs and creditors of the deceased person, informing them of the probate proceedings.
Inventory and appraisal of assets
The executor or administrator must identify and inventory all of the deceased person’s assets, including real estate, bank accounts, investments, personal property, and other assets. The assets must be appraised to determine their value as of the date of death.
Payment of debts and taxes
The executor or administrator must use the assets of the estate to pay off any outstanding debts and taxes owed by the deceased person.
Distribution of assets
Once all debts and taxes have been paid, the remaining assets are distributed to the heirs according to the terms of the will or California law if there is no will.
Closing the estate
After all of the assets have been distributed, the executor or administrator must file a final accounting with the court and request that the estate be closed.
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