Why Probate?

Why Probate?

Why Probate?
Nobody voluntarily chooses probate. People are too busy or preoccupied with health or other issues to plan. They pass away without a living trust and their heirs—-usually their children—- find that they can’t sell Mom or Dad’s house without a court order or can’t transfer Mom or Dad’s bank account without court approval. Even with a will, they may be forced to file a probate proceeding.
Alternatives to Probate
Because probate is expensive and time consuming, a responsible attorney first tries to determine if there is an alternative to probate. In California, the most common alternatives to probate are a Spousal Property Petition (if there is a surviving spouse) or a small estate transfer (if the value of the estate is less than $100,000). If these and other alternatives to probate are unavailable, then the only recourse for the decedent’s heirs is to file a probate proceeding.
Cost of Probate
Attorney’s fees and costs are set by law in California and are based upon the value of the estate. Here is the statutory fee schedule in California:
4% of the first $100,000
3% of the next $100,000

The Basics Of Estate Planning

The Basics Of Estate Planning

Estate Planning may be a word that is encountered by many citizens especially the elderly. What is Estate Planning? What benefits does it provide to people?

Estate Planning is a method of arranging and considering alternatives that will satisfy specific wishes and goals to prepare for things that may happen to a person and the people he finds special to him.

Estate Planning includes organizing properties and not just putting them in a simple Will. It also lessens the taxes and fees that may possibly be charged to these properties. Estate Planning also includes contingency preparation to ensure that ones wishes regarding health care and medications will be followed.

An estate plan may be described as good if it financially coordinates with the future of the home, business, investments, insurance and other benefits if ever the person becomes sick or will pass away. A good estate plan also sets directions to bring about personal wishes regarding health care in preparation for the when the person becomes disabled.

It is very important to identify the real definition of the term “estate” before someone can really perform estate planning. Estate means all the properties a person owns or has control of. This is regardless whether if the property is solely named after him or is in managed in a partnership. This may include real properties, accounts, bonds and stocks, cash, buildings and establishments, jewelry, collections, all types of businesses and even retirement benefits.

Typically, those who really need to have an estate plan are parents who have minor children, people who have valuable properties and have sentimental values for them, and also people who are concerned about their medications and health care. However, people can still acquire an estate plan whether they have these categories or not. As long as they have all the things that are covered by an estate plan, then they can avail of it.

While a person is alive, it is important to prepare an estate plan and at the same time implement it. This is the perfect time for a person to perform and have legal capacity to come up with a contract. There may be challenges that could occur if an estate plan is implemented when a person is already disabled. Others may judge the lack of capacity and the person may be prone to fraud, abuse and coercion.

Estate Plans may include wills, power of attorney for health care, living wills, living trusts and limited partnerships. When entering into a contract, it is very important to make use of the services of a lawyer. Lawyers are the only certified people who practice these fields. They are also the only ones who can supply a person with all the legal requirements and advice needed in the estate plan. An attorney will be able to answer legal questions regarding the estate and they will also be able prepare the person on the cost of the estate plan and other finances the come with it.

Estate Planning involves sensitive decisions and legal matters. It would only be beneficial if the person will always consult with legal advisors and also seek financial and medical advice. It is important that before a person will enter into estate planning, he should already have a strong understanding of the process so that things will not be difficult for those who will be left behind.

Getting the Best Deals in Attorney Services

Getting the Best Deals in Attorney Services

Sometimes, finding the right attorney and the best attorney services is not easy. There are lots of things that you need to consider. You have to think about the services you need and what specific legal expertise do you need. Your state laws for getting attorney services are also among the major factors that need to be considered. It is also a must that you know the exact specifications of the legal proceedings where you will need attorney services.

Here are some legal fields in attorney services to help you in your decision-making;

*Immigration attorney services –

If your case is related to immigration, you should get these services. You need to decide whether the immigration is employment-based or family-based. Also knowing your state laws about immigration is important in this case.

*DUI attorney services –

If you’re involved in a DUI case, you need to hire the best attorneys in town; or you might end up doing community service or even jail time.

*Social security attorney services –

If your problem involves social security issues such as medical insurance, you need to get these services.

*Criminal defense attorney services –

A good legal firm or attorney should be hired for this one.

*Divorce attorney services –

You need to find the best services in town so you can get past the humiliation of this dilemma fast

Whatever among these cases you are in, it is best to remember that you must hire an attorney who are reliable and sincere in helping you to win your case. After all, you are going to pay them and attorney services fees are mostly huge. Hence, it is just wise to get the best from what you will spend for.

Dealing with Attorney Services Fees

Speaking of fees, these are part of hiring attorneys. You need to pay them so they can give you what you expect from them. There are free attorney services but most need you to spend some amount. There are things that you have to consider when dealing with attorney fees.

Here are some;

*What fee arrangements you should use.

This will depend on your deal. You can ask your attorney on how he or she will charge you. There 3 basic arrangements for payments;

*Hourly rates – where you have to pay for the attorney services based on the hours rendered.

*Flat rate – mostly, this will include out-of-pocket expenses spent by the attorney.

*Contingency fee – this is usually some percent of what you will get from the case. You will talk about this; how much he or she will get depending on how much you will also get.

*What type of expertise is needed? When deciding about fees, the things to consider are the types or level of expertise needed in the case. Also, how much work is to be done should be considered.

How to Get the Best Attorney Services?

Being careful in choosing the attorney you will hire is crucial. First, the success of the case usually depends on how good you are represented. And second, because you are spending money here. You need to get what your money’s worth. It is best that you only hire a firm or an attorney who can give you the best attorney services. You may ask your friends or relatives if they have an attorney to refer. Referral is a good thing because you can be sure that you will get what you and your money deserve.

What is The Probate Process

When it pertains to administering a decedent’s estate, the process typically described as “probate”– many people fear it is intimidating and made complex, however it can really be as basic as four actions. I found the foremost expert in the field, and we believe that Steve Bliss is the best Temecula Probate Attorney in the area.  Follow below to discover what he feels about the probate process and why you should work with trusts and estate planning to avoid said probate.

What is the Probate Process?

Probate refers to the procedure where particular of decedent’s debts may be settled and legal title to the decedent’s residential or commercial property held in the decedent’s name alone and not otherwise dispersed by law is moved to beneficiaries and beneficiaries. If a decedent had a will, and the decedent had home subject to probate, the probate procedure starts when the executor, who is nominated by the decedent in the last will, provides the will for probate in a courthouse in the county where the decedent lived, or owned residential or commercial property. If there is no will, someone needs to ask the court to designate him or her as administrator of the decedent’s estate. Frequently, this is the partner or an adult child of the decedent. As soon as selected by the court, the executor or administrator becomes the legal agent of the estate.

The Four Basic Steps to Probate

1. Submit a petition and offer notification to successors and beneficiaries.

As explained above, the probate process begins with the filing of the petition with the court of probate to either (1) admit the will to probate and appoint the administrator or (2) if there is no will, designate an administrator of the estate. Usually, notification of the court hearing regarding the petition must be supplied to all of the decedent’s successors and beneficiaries. If an heir or recipient objects to the petition, they have the chance to do so in court. Also, normally, notice of the hearing is released in a regional paper. This is to try to notify others, such as unknown lenders of the decedent, of the beginning of the proceeding.

2. Following visit by the court, the personal agent should provide notification to all known lenders of the estate and take an inventory of the estate home.

The individual representative then provides composed notification to all creditors of the estate based upon state law; any financial institution who wishes to make a claim on assets of the estate must do so within a limited period of time (which also differs by state).

A stock of all of decedent’s probate property, including real property, stocks, bonds, organisation interests, to name a few assets, is taken. In some states, a court selected appraiser values the possessions. When required, an independent appraiser is worked with by the estate to appraise non-cash possessions.

3. All estate and funeral service expenditures, financial obligations and taxes need to be paid from the estate.

The personal representative should identify which creditor’s claims are genuine and pay those and other final expenses from the estate. In some instances, the individual representative is allowed to offer estate properties to please the decedent’s obligations.

4. Legal title in residential or commercial property is transferred according to the will or under the laws of intestacy (if the decedent did not have a will).

Following the waiting duration to allow financial institutions to file claims against the estate, and all authorized claims and bills are paid, usually, the personal representative petitions the court for the authority to transfer the staying possessions to beneficiaries as directed in the decedent’s last will and testament or, if there is no will, according to state intestate succession laws. If the will calls for the production of a trust for the benefit of a small, partner or incapacitated member of the family, cash is then transferred to the trustee. Unless the beneficiaries of the estate waive the requirement as permitted under some state laws, the petition might consist of an accounting of how the properties were managed throughout the probate procedure. When the petition is approved, the personal agent may prepare new deeds for residential or commercial property, transfer stock, liquidate possessions and move home to the appropriate recipients.

In other words, a correctly prepared will, upgraded routinely to represent life changes, organized records of debts, personal effects and other assets streamlines the probate process. The simpler it is for your individual representative to trace your actions after you’re gone, the much easier the procedure.

If you need legal recommendations regarding the probate procedure a probate attorney can answer your probate questions for an economical charge. The Law Firm Of Steven F. Bliss can likewise assist you establish a living trust to help your family prevent probate.

The Law Firm Of Steven F. Bliss, Esq.
43920 Margarita Rd Ste F, Temecula, CA 92592
(951) 223-7000

Work with Steve Bliss our choice for the best Temecula probate attorney.