Sometimes the probate process that occurs after a person’s death can become much more complicated. This is often the case in the state of California where certain residents may own property that exists in other states. Navigating such a probate case can be difficult...
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Estate Administration & Probate
Preparing for the death or incapacitation of an executor
The death of a loved one is an unfortunate but unavoidable time for families throughout California. One way people can provide for their loved ones after passing away is with a proper estate plan. And there's almost no more vital role in someone's estate plan than the...
What happens when an estate is insolvent?
Being named the executor of an estate in California involves many duties. Chief among them will be the responsibility to ensure that all debts owed by the estate are paid off in a timely and full manner. You must also ensure that all people named beneficiaries receive...
Strategies for challenging a power of attorney
Financial planners encourage people in California to execute power of attorney (POA) documents in case of an unforeseen emergency. The POA allows the principal to name an agent to act on their behalf in financial and/or healthcare matters. The document generally takes...
The role of heirs-at-law in an estate
If a California resident dies without a will, there are laws in place that determine who inherits their property. These individuals are known as "heirs-at-law." Identifying heirs-at-law is also important in determining who can challenge a will or another aspect of an...
Quick guide to executor duties
If you agreed to be the executor of someone’s estate you may be wondering how to carry out your duties in California. Executors have multiple duties, some of them quite challenging. This guide will help you understand your responsibilities. Locate the will The first...
Should you consider having more than one executor?
In some cases, only one executor isn't enough to handle the probate of your will after you pass away. There are benefits and drawbacks if you choose to go the co-executor route, so it's important to know what they are before you dive in. For anyone in California who...
Problems for heirs inheriting a California home with a reverse mortgage
Agents sell reverse mortgages to seniors who need money to meet their living expenses. When the senior dies without paying the reverse mortgage, the heirs generally have between one and six months to turn the home over to the mortgage company or pay off the loan...
Estate taxes and how they affect gifts and inheritances
When a resident of California dies, their estate is subject to federal taxes. The federal government determines how much this amount is based on the value of the estate. When a person creates their estate plan, they can take measures to ensure that taxes are lower to...
What to do with an inheritance in Brea, California
After someone you love dies, you may receive an inheritance as a final gift. Gaining financial stability through inheritance is a unique opportunity. As with any windfall, it may cause stress. Mismanagement won't improve your financial health, and overextending...