Not filing probate in California after the death of a loved one who owned assets can have significant consequences.
MATHERS, CA, November 30, 2023 /24-7PressRelease/ -- Probate is the legal process of administering a deceased person's estate and distributing their assets to beneficiaries or heirs according to their will or the state's intestacy laws.
Here are some potential consequences of not filing probate in California:
No Legal Transfer of Assets: Without probate, there is no official legal process to transfer the deceased person's assets to their beneficiaries or heirs. As a result, the ownership of these assets may remain unresolved, leading to complications and disputes among family members.
Delay in Distribution: Probate helps facilitate the orderly distribution of assets to the rightful beneficiaries. If probate is not initiated, there may be delays in distributing the assets, and beneficiaries may be left in limbo regarding their inheritance.
No Authority for Executors: If there is a will naming an executor, that person may not have the legal authority to carry out their duties and manage the estate without going through probate.
Inability to Access Assets: Creditors, financial institutions, and other entities may require proof of probate before releasing the deceased person's assets to beneficiaries or heirs.
Potential Liabilities: If there are outstanding debts or claims against the estate, probate provides a structured process for settling these liabilities. Without probate, there may be no clear method for handling these obligations, which could lead to potential legal issues.
Increased Costs: Although probate can be seen as an added expense, not filing probate can result in higher costs in the long run due to complications, legal disputes, and potential tax issues.
Note that not all estates require probate. Some smaller estates may be eligible for simplified procedures, such as small estate affidavits or summary probate. Consulting with an experienced probate attorney can help determine your rights and responsibilities, ensure the orderly administration of the estate, and determine the best course of action based on specific circumstances of the estate.
"When someone dies, there can be several end-of-life documents involved: an estate plan, trusts, a will and life insurance, among other policies and documents," says Michael Hackard of Hackard Law Firm.
About Hackard Law Firm
The team of attorneys at Hackard Law assists clients in emotionally charged situations, such as disinheritance in an estate or trust dispute as well as elder financial abuse and undue influence. They prioritize a compassionate approach, remaining readily accessible throughout the entire case and encouraging ongoing communication even after resolution. Through three decades of experience, they have learned that building a business with the right values leads to meaningful relationships that extend far beyond legal matters. To book a consultation or find out more, call 916-313-3030, or visit the website.
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