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. Our goal is to provide outstanding client service at an affordable cost to you. . PROBATE
Probate is the legal process through which the court sees that a deceased individual's debts are paid and assets distributed to that person's beneficiaries. Probate, the legal process of verifying that a will is valid, takes place in one of two instances. If a person dies leaving behind a will, or second, if the deceased has died intestate, which means that he or she has not left behind a Will or Revocable Trust. |
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Top Practice Areas Bankruptcy Business Planning Estate Planning Family Law IRS Tax Debt Relief Loan Modification . . Experience & Commitment Experience About Cynthia About Greg . . Flahive Law Corporation financially supports many charitable organizations. Members of the firm also volunteer their time to support events with these organizations. We believe that as an active member of our society, its our duty to contribute to our community. . . Flahive Law Corporation has formed key strategic alliances with other companies that may be able to provide valuable services to you. . . Flahive Law Corporation’s Education Center allows you to access the information you need to research your legal questions to make informed decisions. With our education center, you find useful information related to estate planning, family law, bankruptcy, business planning, and IRS tax debt. .. . Press Releases and Blogs Gregory and Cynthia Flahive and their team of experienced attorneys have dedicated their practice to providing you outstanding legal representation. They frequently post information in the media to better educate you. Visit back often to check for updated information you need to know.
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. . In the first case, the probate process will verify the decedent's Will, appoint an executor who will carry out an inventory of the estate and pay any claims and estate taxes. The executor will manage the distribution of any remaining assets. If no Will is left behind or the Will cannot be found, California has its own laws covering distribution of assets. The probate process will ensure that creditors are paid and distribution takes place according to these laws.
Probate can be complex for those executors who do not have qualified legal assistance. Depending on the complexity of the estate, probate can be a daunting task for the untrained executor. Be aware that no matter the situation, probate may be a lengthy process often taking months or possibly years to play out, and one which may take a considerable amount of an executor's time. We may help shorten this time delay and reduce the executor's work.
Your probate attorney will take the first step to start the probate process. The first step is to file a legal document known as a petition for probate. A hearing date is set and notice must be sent out to all potential beneficiaries notifying them of this initial hearing. It is generally required that notice of death be published in a newspaper.
At the first hearing, the probate judge will appoint an executor which is generally a close relative and ask if anyone is contesting the validity of the Will. The court will then issue certain legal letters, and will give the executor power to act.
The next step in the probate process is to inventory the estate. We can help organize and manage this task for you. Other professional asset valuers appointed by the court are often known as probate referees or commissioners will be involved in the process as well.
Debts and assets must be determined. The executor is responsible for sending out notices to creditors. We will also help with this responsibility. This notice will state that your loved one has died, and that any party with a claim against their estate should submit that claim to the probate court within a certain time period. You may be required to send notices to creditors or publish this information in a newspaper. Once all claims against the estate have been settled and the final inventory completed, the inventory is submitted to the probate court, where it is reviewed by the probate judge.
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All tax forms must be completed and sent to the IRS, and estate taxes must be paid. The IRS requires estate taxes to be paid within 9 months of death, unless an extension is granted. Also, a final tax form must be completed for the deceased for the year of death.
Once the IRS has received the estate taxes, they will issue a closing letter stating that all estate taxes have been paid. We will work with a CPA for the preparation and filing of these important tax forms. We may be able to minimize the expense and time necessary for this important step, as well as help to avoid errors that can cause severe tax consequences.
A final accounting is performed to summarize the estate for the court. Copies of this final accounting are sent to all beneficiaries. If there is a dispute about the details of the estate, the beneficiaries may challenge the executor before the court. This is why you should contact us today to help minimize any potential challenges in court.
Once all beneficiaries have approved the final accounting, it is submitted to the court for approval. The heirs are paid out according to the orders contained in the Will. If the deceased has died intestate, without a Will, then the heirs are paid according to California law.
The complexity of probate can be minimized by allowing us to help you. Time frames and certain legalities could jeopardize beneficiaries from receiving their money and expose the executor to liability. This is why it is important that you consult with Flahive Law Corporation immediately after a loved one passes away by calling us or completing our secure contact form. |
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