Pay on death (POD) accounts, sometimes referred to as “transfer on death” (TOD) accounts, avoid probate. Probate is avoided because POD accounts have a beneficiary designation. Thus, there is a contract that says, “When I, Sam, die, I want my bank account to be transferred to my brother, Phil.” While Sam maintains control and ownership […]
Probate
Why Should I Avoid Ancillary Probate?
Many people seek to avoid probate because it has high fees, takes a long time, and is a public process (which means that everyone has access to your personal financial and beneficiary information.) Ancillary probate means that you have to go through probate in two or more states. That’s double the trouble! When is ancillary […]
What Does a San Diego Probate Lawyer Do?
A San Diego probate attorney or probate lawyer (also known as an “estate attorney”, “estate lawyer,” or “estate planning lawyer”) guides Executors and Administrators during the probate process. Sometimes, a beneficiary may hire a San Diego probate lawyer for guidance on his or her legal rights during the probate process. What is probate? If an […]
How to Probate a San Diego Estate
If an individual dies, owning assets in his/her name, the estate must be probated. Probate is a court supervised process of validating the will; appointing an executor; locating, protecting, and valuing the decedent’s assets; paying final bills and applicable taxes; and, upon proving to the court that these things have been done, distributing assets to […]
Probate Offers Asset Protection
Advice from Our San Diego Probate Lawyer: Our San Diego probate – estate planning lawyer helps people just like you protect their assets through the process of probate. Probate begins the running of the statute of limitations for creditor claims and requires the executor to put up a bond and be supervised by the court. […]
What is California’s Probate Process?
Technically, probate is the process by which the court validates your will. The term “probate” also refers to the winding down of your financial life. What assets go through probate? All assets in your individual name or made payable to your estate are subject to the probate process. Examples, would be your house, bank account, […]
A Will has no Effect on Most Property
Surprised? It’s true! While each and every person age 18 or older should have a Will, there are some things that a Will cannot do. If you’re like most people, you don’t realize that a Will has absolutely no effect on certain assets. The assets themselves determine what happens to them when you die; your […]
Holiday Fireside Chat: It is time to Chat with your Loved Ones about your Estate Planning
Extended families gather at this time of year. So, it is an excellent time to chat with your loved ones, typically your children, about your personal estate planning. Let them know that you have “taken care business.” Peace of mind is a precious gift any time of year. For young children, those under eighteen years […]
What If You Become Sick and Don’t Have a Power of Attorney for Healthcare?
A power of attorney for healthcare allows you to appoint someone you trust (your agent), to make important health care decisions for you if you can’t make them yourself. The power of attorney for healthcare has no effect as long as you can make your own wishes known. A power of attorney for healthcare may […]
Why a Will Alone Can’t Eliminate Probate
Though leaving a will can mean fewer complications for your loved ones, it can’t eliminate probate. Even with a will, the California probate court will have to approve your selection of executor. The court can also require the named person to post a bond in order to serve. This bond could be a nominal amount […]