Estate planning in California is much more than figuring out the distribution of assets to beneficiaries but can be a means to protect yourself and your children when you can no longer do so. One way you can protect yourself or any children is through the creation of a comprehensive estate plan t...
Creditors can seek payment from a deceased person's estate in California through the probate process. Probate is the legal process of distributing a deceased person's assets to their creditors and heirs.
Estate planning is a crucial aspect of financial management that ensures your assets are distributed according to your wishes after your passing. In recent years, both federal and California governments have introduced significant changes to estate planning laws, affecting residents of California.
Probate court is a court that oversees the administration of a deceased person's estate. The purpose of probate is to ensure that a deceased person's assets are distributed according to their will or, if they did not have a will, according to the laws of the state in which they lived. Avoiding it as a part of your future takes effort and understanding.
For the personal representative of an estate, proper handling of creditors’ claims is critical. Liability issues aside, the estate may not close until payment of, or provisions for satisfaction of, all the decedent’s debts are made.
Who Is Responsible for Your Debt After Your Death? Debt does not disappear when you die.
Never add your children to title of your home unless you're ready to transfer the entire property to them. By the way; you missed the boat on doing that to avoid Proposition 19 so you might as well hang on to title but use your living trust. If I add my child's name to the title of my house🏠, wouldn't that be the easiest way to avoid probate and transfer it quickly after I die? Short answer: NO!Here's the scoop: You're running a lot of risk when you do this. Take these into consideration:❌ Want...
The oldest known will was discovered in Egypt by archeologist William Matthew "Flinders" Petrie in 1890. It was dated by scientists to have been made in 1797 B.C. by a man by the name of Ankh-ren. We then find in the Code of Justinian, collections of laws and legal interpre...