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A trust administration is NOT a court-supervised process,yet its ultimate goal is also the transfer of property from an individual who has died (the �decedent”) to that individual�s beneficiaries who are identified in the living trust Once everything has been distributed,you will submit receipts and records of everything to the court and then ask for the estate to be closed and to be released from the role of executor Irvine Probate Law Then the court will schedule a hearing to approve the executor (or hear objections from other parties).
Notice must be given by first class mail or by personally delivering a copy to each person or entity at least 15 days prior to the hearing Each person should receive a copy of the “Notice of Petition to Administer Estate” showing the hearing date information Probate Irvine Probate Law Virtual Probate Process.
Some assets are distributed to heirs by the court (probate assets) and some assets bypass the court process and go directly to your beneficiaries (non-probate assets) Irvine Probate Law 41 Corporate Park,Irvine,CA 92606 Estate Planning Virtual Appointments Available Day,Evening and Weekends.
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In the case of a small estate,or if the decedent left his assets in trusts or gifted them prior to his death,probate may not be necessary With all claims,debts and expenses paid,you’ll give the remaining property to the rightful heirs and/or as the will directs Irvine Probate Law Steven F Bliss Esq.
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In addition to the petition,you will need to file a valid will,if one exists,and the death certificate.
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The significant loss of a decedent’s estate for the payment of attorney fees,executor compensation and court costs is a great motivator to put together a great estate plan Some assets are distributed to heirs by the court (probate assets) and some assets bypass the court process and go directly to your beneficiaries (non-probate assets) Irvine Probate Law Estate Planning.
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If additional space is needed,attach a separate page File the signed Proof of Service by Mail with the court.
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Probate is the court-supervised process of authenticating a last will and testament if the deceased person made one.
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The paperwork will ask for you to be officially acknowledged as the legal executor representing the estate In addition to the petition,you will need to file a valid will,if one exists,and the death certificate Irvine Probate Law Effectively resolved probate or trust administration also requires expert accounting and tax preparation.
Irvine Probate Attorney Steve Bliss is fully versed in all matters with probate proceedings Avoiding probate is by far the most common reason why people seek out the advice of an estate planning attorney Irvine Probate Law If additional space is needed,attach a separate page File the signed Proof of Service by Mail with the court.
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It is also recommended (but not required) that each person be sent a copy of the Petition for Probate with all attachments Notice must be given by first class mail or by personally delivering a copy to each person or entity at least 15 days prior to the hearing Each person should receive a copy of the “Notice of Petition to Administer Estate” showing the hearing date information Irvine Probate Law You’ll also need to pay all applicable taxes,as well as file a final income tax return on the estate.