When someone passes in California, their heirs and beneficiaries may inherit their assets. However, depending on the circumstances, this might not happen immediately. Those involved must often go through the probate process before they can receive their inheritance.
This blog will explain the basics of what probate is in California and why it may be a lengthy process. It will also touch on the fact that a Santa Clarita estate planning attorney could help you avoid probate.
The process of distributing assets to the beneficiaries and heirs of someone who has passed away is referred to as probate. Steps in the process typically include:
There are various reasons probate can take a long time in California. They include the following:
The person in charge of distributing a deceased person’s assets in California must often identify and locate all their assets first. They must also identify and pay off any debts before they can distribute the remaining assets to those set to inherit them.
The probate process naturally involves working through the court system. Because courts may be backlogged, this can result in delays.
The executor may need to contact various parties throughout probate, such as beneficiaries and creditors. Notifying all those involved can be a time-consuming process.
It’s often necessary to determine the value of assets before they can be distributed. This adds to the overall length of probate.
Unfortunately, sometimes, beneficiaries will argue over who deserves to inherit certain assets. When disputes arise, probate can take longer than it already does.
Creditors can make claims against the estate of the deceased if they had any outstanding debts. Reviewing such claims and evaluating their validity is another task an executor must complete during probate.
Although probate can take a long time, none of this is meant to suggest that beneficiaries must always go through a lengthy process before they can receive what is left to them. There are ways to bypass probate in California.
For example, instead of creating a traditional will, someone could create a living trust. This essentially allows them to transfer ownership of their assets to someone else so that they won’t have to go through probate.
Is this an option that interests you? If so, discuss it in further detail with a legal professional. At the Law Offices of Andrew Cohen, a Santa Clarita estate planning attorney can help you better understand whether it’s right for you, and they can guide you through the process of setting up a living trust if you decide to do so. Contact us online or call us at 661-481-0100 for more information.