How to Probate an Estate in California

by Nissley, Julia P.; McKenna, Beth; Stein, Mari; McKenna, Beth

• ISBN13: 9780873378055
• ISBN10: 0873378059
• Format: Paperback
• Copyright: 2002-04-01
• Publisher: Nolo

Summary

How to Probate an Estate in California provides all the tear-out forms and instructions anyone needs to:
-- read and understand a will
-- determine who gets property if there is no will
-- transfer property to a surviving spouse
-- collect life insurance and other benefits
-- change title of real estate, securities and other possessions into the names of the new owners
-- and much more

The completely updated 13th edition includes a definition and discussion of insolvent estates, discusses California inheritance taxes, and shows how to avoid reassessment on residences transferred from grandparents to grandchildren.

Author Biography

Julia Nissley was Probate Administrator with a Los Angeles law firm for many years. She now operates her own probate-form preparation service for all California counties, handling all sorts of probate paperwork through the mail or in person.

Table of Contents

I Introduction
An Overview
What Is Probate?	2	(1)
What Is Involved in Settling an Estate?	2	(1)
How Long Does It Take to Settle an Estate?	3	(1)
What This Book Covers	3	(1)
Simple Estate Checklist	4	(1)
Important Terms Defined	4	(4)
Insolvent Estates	8	(1)
Death Taxes	8	(1)
Do You Need an Attorney?	9
First Steps in Settling an Estate
Who Should Act As the Estate Representative?	2	(2)
Responsibilities of the Estate Representative	4	(2)
Specific Duties of the Estate Representative	6
Who Are the Heirs and Beneficiaries?
Where to Start	2	(2)
How to Read a Will	4	(6)
Compare Schedule of Assets (in Chapter S) With Property Left in Will	10	(3)
Determining Identity of Beneficiaries and Heirs When Will Is Ineffective	13	(3)
If There Is No Will	16	(2)
The Concept of Right of Representation	18
What Is the Decedent's Estate?
Real Property	2	(7)
Personal Property	9	(1)
What Establishes Ownership of Property?	10	(1)
How Was the Decedent's Property Owned?	10	(4)
How to Determine Whether Property Is Community or Separate	14	(1)
Actions by Spouses That Change the Character of Property	15	(1)
Property That Is a Mixture of Community and Separate Property	16	(1)
Examples of Property Ownership	17	(3)
Property Acquired by Couples Before They Moved to California	20
Preparing a Schedule of the Assets and Debts
Describe Each Asset	3	(1)
Value Each Asset (Column A)	3	(1)
How to Determine Ownership of Property	4	(1)
List the Value of the Decedent's Interest (Column D)	5	(1)
Determine Whether Property Is Probate or Non-Probate Asset (Column E)	5	(1)
List Al) Debts	6	(1)
Checklist of Property to List on Schedule of Assets	6	(15)
Schedule of Assets for a Sample Estate	21
How to Identify the Best Transfer Procedure
Non-Probate Assets	2	(1)
Assets That May Be Subject to Formal Probate	3	(1)
Examples of How Assets Are Transferred in Typical Estates	4	(1)
Sample Estates	5
What About Taxes?
Decedent's Final Income Tax	2	(2)
Fiduciary Income Tax Returns	4	(1)
Other Income Tax Returns	5	(1)
``Stepped-Up'' Income Tax Basis Rules for Inherited Property	5	(1)
Federal Estate Tax Return	6	(4)
California Estate Tax Return	10	(1)
California Inheritance Tax	10	(1)
Tax Issues for Some Typical Estates	10
Transferring Title to Real Property
Ways to Transfer Real Estate After Death	2	(1)
Basic Information on Recording Documents	2	(1)
Change in Ownership Statements	3	(6)
How to Record Your Document Transferring Title	9	(2)
Mortgages	11
How to Transfer Securities
Documents Required to Transfer Securities	3	(2)
The Stock or Bond Power	5	(2)
The Affidavit of Domicile	7	(1)
The Transmittal Letter	7	(1)
How to Sell Securities	7	(1)
The Stock Transfer Tax	7
Joint Tenant Property
Where to Start	2	(1)
How to Clear Title to Real Property in Joint Tenancy	2	(3)
How to Clear Title to Securities Held in Joint Tenancy	5	(1)
How to Clear Title to Motor Vehicles and Small Boats Held in Joint Tenancy	5	(2)
How to Clear Title to Joint Tenancy Bank Accounts (and Totten Trust Accounts)	7	(1)
How to Clear Title to Money Market Funds and Mutual Funds	7	(1)
How to Clear Title to U.S. Savings Bonds in Co-Ownership	7
Transferring Small Estates Under $100,000
Overview of the Simplified Transfer Procedure for Small Estates	2	(1)
How to Determine Whether You Can Use Summary Procedures	3	(1)
How to Transfer the Property	4
How to Transfer Trust Property and Property Subject to Life Estates
Notifying Heirs and Beneficiaries	2	(1)
Trust Property	2	(2)
Handling Debts and Expenses	4	(1)
How to Transfer Property Held in Living Trusts	4	(3)
Life Tenancy (Life Estate)	7
An Overview of the Probate Court Process
Do You Really Need a Probate Court Proceeding?	3	(1)
Probate Checklist	3	(1)
Dealing With the Probate Court	3	(5)
Beginning the Probate Process	8	(8)
Taking Care of the Estate During Probate	16	(5)
Closing the Estate	21
Conducting a Simple Probate Court Proceeding
Prepare the Petition for Probate	3	(13)
Prepare the Certificate of Assignment	16	(1)
Prepare the Notice of Petition to Administer Estate	16	(7)
File Your Petition for Probate	23	(1)
Complete the Proof of Subscribing Witness Form	24	(6)
Complete a Proof of Holographic Instrument	30	(1)
Notify the Director of Health Services	30	(1)
Prepare Your Order for Probate	30	(1)
Study and Respond to the Calendar Notes	31	(4)
Prepare the Letters	35	(1)
Prepare the Duties and Liabilities of Personal Representative Form	35	(5)
Prepare the Application for Appointment of Probate Referee	40	(1)
Prepare Notice of Proposed Action, If Necessary	40	(9)
Prepare the Inventory and Appraisal Form	49	(9)
Notify Creditors and Deal With Creditor's Claims and Other Debts	58	(8)
Prepare the Petition for Final Distribution	66	(22)
Prepare Notice of Hearing (Probate)	88	(1)
Prepare Order of Final Distribution	89	(3)
Transfer the Assets and Obtain Court Receipts	92	(6)
Request Discharge From Your Duties	98
Handling Property That Passes Outright to the Surviving Spouse
When to Use These Simplified Procedures	2	(1)
Before You Begin	3	(1)
Collecting Compensation Owed the Decedent	3	(2)
Affidavit for Transferring Community Real Property	5	(1)
The Spousal Property Petition	5	(17)
How to Transfer the Assets to the Surviving Spouse	22
If You Need Expert Help
What Kind of Expert Do You Need?	2	(1)
Using a Legal Document Assistant	2	(1)
Using a Lawyer	3