San Marcos Estate Administration Lawyer

The administration of an estate happens after one of the most difficult experiences a family can face - the incapacity or the death of a loved one. Choosing the right San Marcos estate administration attorney can ensure that your will is honored and the estate is administered per California state and federal laws. At the law office of Paul V.L. Campo, Attorney at Law, we are committed to providing personalized and effective legal services to ensure your plans are in place.

Estate Administration Services

Probating the Will

When a person dies testate, it means they left a valid will. In California, probating this will is the court-supervised process of administrating a deceased person’s estate.

There are six basic phases of the state’s probate process:

1. Firstly, a petition for probate is signed and filed with the California Superior Court in the county where the decedent lived. This is usually filled out by the executor named in the will and is a formal request for the court’s oversight and approval of the will’s validity.
2. After the initial filing, a hearing date is put in the books. This is to prove the will’s authenticity and officially designate the estate executor.
3. After this hearing, California law includes a four-month waiting period to allow creditors of the estate to file claims against the assets before they are distributed to the beneficiaries. The executor or their lawyer will notify potential creditors and document any claims received.
4. The executor will gather and inventory all of the estate’s assets and liabilities, including property, bank accounts, and debts. A final report that includes the estate’s value, expenses incurred during the estate administration, such as court fees and attorney costs, and how the remaining assets will be distributed will be drafted.
5. A final court date is set to review the final report and get court approval for the asset distribution so that it follows what the decedent outlined in their will. All creditor claims are addressed, and the court will close the case.
6. The final part of the probate process is the distribution of the assets to the beneficiaries. This will be documented and must adhere to the tax implications of the inheritance.

When a person passes away intestate, it means they did not leave a valid will. In this case, California’s intestate succession laws determine how their estate is distributed. This includes appointing an administrator to manage the estate, which is similar to an executor in a testate estate. The order of inheritance is surviving spouse, children, parents, siblings, then other distant relatives.

Both testate and intestate estates go through the probate process. On average, the probate process can take between nine months to a year and a half to complete, but intestate estates can be a more lengthy and difficult process.

Asset Management

An estate administration attorney will support the executor with asset management, such as the inventory, appraisal, and protection of the assets. All of the assets owned by the deceased, such as real estate, bank accounts, investments, personal property, and business interests, will be located and appraised based on the current market value. This could include hiring professional appraisers.

Property Title Transfers

The estate administration lawyer will facilitate property title transfers from the decedent to their beneficiaries. To do this, they will identify all properties owned, review the will and any potential trusts, clear title issues like liens or mortgages, prepare transfer documents, oversee the signing of those documents, ensure the deed is recorded and received by the county or municipal office, and then notify any parties of the transfer of property ownership.

Throughout this process, a lawyer will address any tax issues like estate taxes, property taxes, and income taxes that come up during the ownership transfer.

Debt Settlement

Even when a person passes away, their debts do not go away. An estate administration lawyer will identify debts like mortgages, credit cards, personal loans, medical bills, taxes, and other liabilities owed. They will notify the creditors of the debtor’s passing and negotiate with them to settle their debts through their estate’s assets.

If there are any disputes on the validity of the amount of any debts, a lawyer may challenge these claims on behalf of the estate.

Tax Resolution

Tax resolution begins with an estate administration lawyer gathering all relevant tax information, such as income sources, assets, deductions, and any outstanding tax obligations. The lawyer will prepare and file a final income tax return for the decedent, covering the income earned from the beginning of the tax year to the date of their death. By the end of the estate administration, the lawyer will ensure that taxes owed by the decedent and their estate are paid.Asset Distribution

After the debts and taxes are settled, an estate administration lawyer will work with the executor to distribute the remaining assets to beneficiaries as outlined in the will.

Life Insurance Claims

A lawyer can identify what life insurance policies the decedent has, including employer-sponsored policies. The policies will be reviewed, the designated beneficiaries will be determined, and the necessary documents will be gathered to file a claim. Once the claim is approved, the lawyer will ensure proper distribution according to the policy terms and estate plans.

Dispute Resolution

Sometimes disputes arise, particularly among beneficiaries, between beneficiaries and the executor, or other parties such as creditors or people not named in the will. An estate administration lawyer will provide legal guidance and advice to those involved about their rights and responsibilities under the law.

The lawyer may also resolve disputes through mediation or negotiation and work with a third-party mediator to work toward finding a common ground.

Closing Outstanding Contracts

An estate administration lawyer will identify all contracts and obligations that the decedent entered into before passing away, such as lease agreements, service contracts, employment agreements, insurance policies, loans, and other contractual agreements.

After fulfilling or terminating these contracts, the lawyer will assist with closing accounts while documenting all communications, agreements, and all actions they took.

Legal Advice and Guidance

The legal advice and guidance that an estate administration lawyer provides ensures that the wishes of the decedent are respected, legal requirements are met, and potential disputes are solved in a way that protects the executor and beneficiaries of the estate.

Prepare Your Estate Plan

For your estate to be administered according to your wishes after you pass away, you need to make arrangements during your lifetime through estate planning. If this is not done, your assets will be distributed according to California law, which can become a complicated process for your beneficiaries.

Basic parts of an estate plan in California include:

• Will: This is the estate planning document that determines how your assets will be distributed. A valid will must be in writing, signed by you, and witnessed by two witnesses.
• Trust: California law allows for many types of trusts, including revocable living trusts, irrevocable trusts, and special needs trusts. A living trust allows assets to pass to beneficiaries without going through probate, which saves time and costs.
• Advanced Healthcare Directive: This is a document that formally appoints a person to make healthcare decisions for you if you become incapacitated.
• Financial Power of Attorney: This is a document that appoints someone to handle your financial affairs if you become incapacitated.
• HIPAA (Health Insurance Portability and Accountability Act) Waiver: This is a document that allows designated individuals to access your medical information.

If you carefully plan your estate before you pass away, you can prevent your beneficiaries from paying costly estate taxes, being forced into long legal battles, costly court appearances, and difficult family disagreements.

Small Estate Affidavit

In California, a Small Estate Affidavit (SEA) simplifies the legal process of transferring property from the decedent to their beneficiaries without the need for a formal probate process. But, their personal property, excluding real estate, must be valued at less than $184,500. If the death of the owner occurred before April 1, 2022, the amount is $166,250. This can be a cost-effective and efficient way to administer an estate if their estate is small.

Do I Need an Estate Administration Attorney?

While you are not legally obligated to hire an estate administration attorney in San Marcos, California, navigating the legal proceedings and complexities can be difficult and time-consuming, especially if you are not familiar with the law. With the right estate administration lawyer, you can ensure your loved one’s estate is handled efficiently and correctly.

Are Estate Administration Attorneys Costly?

While attorney fees can be costly, the costs usually depend on the complexity and demands of managing and settling the estate. Additionally, hiring an attorney can save you time, reduce stress, and ensure the estate is administered properly and per California law.

Experienced Estate Administration

Do not face the challenges of estate administration alone. The experienced team at Paul V.L. Campo, Attorney at Law, can bring you peace of mind that the administration process is streamlined and fully complies with California law. Contact us today so we can discuss your unique needs.