How to Probate and Settle an Estate in

The tasks required to fulfill probate responsibilities vary with the extent and complexity of the estate, as well as from state to state. This book guides the process of probate under California law and includes changes that have occurred recently with the meeting of the state legislature. Easy-to-use, blank tear-out forms make this book a valuable tool for anyone who is placed in the position of probating an estate.

Information concerning handling creditor's claims, petitioning for hearings, taking inventory of the estate's assets, selling the estate property and handling of tax issues are all covered in this new text. Of particular interest in this book is information concerning the protection of the deceased's family -- what rights the living have and which laws apply to those rights.

Using Self-Help Law Books

vii

Introduction

xi

An Overview

1

(8)

What Is Probate?

Finding the Law and Using Court Forms

Types of Property

Which Assets Must Be Probated?

Which Assets Do Not Have to Be Probated?

The Probate Personal Representative

Income Taxes

Estate and Inheritance Taxes

The Probate Process

Funeral Arrangements and Other Immediate Tasks

Transferring Non-Probate Assets

9

(22)

Joint Tenancy

P.O.D. Bank Accounts and T.O.D. Brokerage Accounts

Life Insurance, Annuities, Pensions, IRAs, and Private Retirement Accounts

Totten Trust Account

Living Trust

Property Passing to a Surviving Spouse

Small Estate Distribution

Starting Probate Proceedings

31

(8)

Waiver of Right to Act as a Personal Representative

Preparing the Petition for Probate

Proof of Subscribing Witness Form

The Hearing

39

(8)

Setting the Petition for Probate for a Court Hearing

The Hearing

Order for Probate

Duties and Liabilities of the Personal Representative

Bond

Letters

Personal Representative's Initial Steps

47

(4)

Understanding Fiduciary Duty

Marshaling Estate Assets

Request for Special Notice

Inventory and Appraisal

51

(8)

Types of Inventory and Appraisals

Preparing the Inventory and Appraisal

Submitting the Inventory and Appraisal to the Probate Referee

Filing the Inventory and Appraisal

Handling Creditor's Claims

59

(8)

Duty to Ascertain Creditors

Informal Payment of Debts

Giving Written Notice to Creditors

Claims Not Covered by the Regular Rules

Filing the Creditor's Claim

Allowing or Rejecting a Creditor's Claim

Contesting Allowance or Rejection of Claim

Informal Resolution of Rejected Claims

Judgments

Family Protection

67

(4)

Temporary Family Protection

Exempt Property

Probate Homestead

Family Allowance

Small Estate Set-Aside

Independent Administration of Estates Act

71

(6)

Actions That Cannot Be Taken under the IAEA

Actions That Can Be Taken under the IAEA

Sales

77

(16)

Published Notice of Sale

Court Approval of Sales

Personal Property Sales

Real Property Sales

Taxes

93

(8)

Income Taxes

Income Tax Basis Adjustment

Inheritance and Estate Taxes

Conclusion

Final Distribution

101

(12)

Final Distribution and Closing the Estate

Notice of the Hearing

The Hearing

Order Settling Final Account

Final Distribution

Glossary

113

(4)

Appendix A: Sample Filled-In Forms

117

(106)

Appendix B: Blank Forms

223

(62)

Index

285

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How to Probate and Settle an Estate in California

Summary

Table of Contents

Supplemental Materials