Sound California Probate and Estate Administration
Estate planning is at once under-discussed and an immensely valuable resource. You may have a will or have at least contemplated the importance of drafting one. But have you considered the additional, similarly important question of how the intentions embodied in your will are to be realized once it has been put into effect by your passing? You don’t simply provide your loved ones with instructions as to the will’s location, or expect them to read and comply with it on their own, after all. The answer to the question is what is known as probate and estate administration. Whether you die with or without a will, probate is necessary to administer your estate. The purpose of this article is to explain the basics of probate and estate administration.
Probate Begins with Notification
An estate most always contains not just assets, but liabilities. As such, estate administration concerns with the distribution of assets and the resolution of debts. In order for these two prongs to be addressed, all interested parties must be notified of your passing and timeline of your estate’s administration. It is through this protest of notification that probate commences. Just as you take care to ensure that your will is drafted in accordance with all applicable formalities and is thereby valid, it is wise to do the same with regard the oversight of all stages of the probate and administration processes.
In addition to duly notifying all parties interested in your estate by virtue of receiving a distribution or the repayment of a debt, an experienced estate planning attorney will serve as the individual charged with collecting your assets, paying the debts of your estate, and distributing all remaining assets to either the beneficiaries named in your will or, if you die without a will, in accordance with the laws of intestate succession.
Experienced in Probate and Estate Planning and Administration
In addition to distributing assets and discharging liabilities, the individual appointed to administer your estate during probate will also be prepared in the event an interested party contests the validity of your will. In doing so, the administrator will fully investigate the claim of the contesting party, whether it be on grounds of capacity, duress, revocation by subsequent instrument, or otherwise. In drafting your will and overseeing the processes of probate and estate administration, rely on the expertise of a dedicated Fremont estate planning attorney.