The Trust Administration Lawyers with Ainer and Fraker talk about how the Petition to Determine Succession to Real Estate in California may change the complete probate procedure for Estates less than $150,000.
In our previous posts, we went over why Avoiding Probate is an outstanding concept.
We also talked about how particular Assets Not Subject to Probate can prevent the Probate process, in particular circumstances.
An earlier post went over the California Small Estate Affidavit procedure, whereby { individual {property| personal effects| assets less than $150,000 might be dealt with without court guidance.
As of January 1, 2012, the California Probate Code was changed to consist of realty less than $150,000 in the California Small Estate procedure. This brand-new rule uses retroactively to all Estates submitted after January 1, 2012, no matter when the Decedent died.
California Probate Code Section 13150 et seq. permits a Petition to Determine Succession to Real Property (and Personal Property) for estates of $150,000 or less.
Unlike the California Small Estate Affidavit Procedure, noted in California Probate Code Section 13100 – which is an affidavit-based process that is completely without court guidance, the process for Real Estate identified in this Area does require filing a Petition with the Probate Court.
However, the process described in California Probate Code Section 13150 et seq. is NOT a full probate, and is far cheaper and typically far quicker than a full probate.
Reach out to a Will Contest Attorney with Ainer and Fraker 800-775-7612 www.AinerFraker.com right away to discuss the Probate Code requirements for the Petition to Determine Succession to Real Estate in California.
