The government has a plan for those who don’t plan – and it’s called probate. If, at the time of the decedent’s death, the decedent does not have a valid trust and the fair market value of his or her estate exceeds $100,000, then the decedent’s estate is likely to be subject to probate. Assets titled in a decedent's sole name are known as probate assets. Probate refers to a court-supervised process in which:
- Estate assets are located and valued
- Creditors are identified and paid
- Income and estate tax returns are filed
- Assets are distributed to the beneficiaries
If you are appointed as the executor of a decedent’s will — known in California as the personal representative — you are responsible for managing and completing these tasks. The experienced lawyers at Roberts & Associates can counsel you in the effective discharge of your probate duties, helping reduce your stress and facilitate the cumbersome probate process.