The Probate Attorneys with Ainer and Fraker explain 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 excellent concept.
We also discussed how particular Assets Not Subject to Probate can prevent the Probate process, in certain circumstances.
An earlier post discussed the California Small Estate Affidavit procedure, whereby {personal {property| personal effects| assets less than $150,000 could be disposed of without court guidance.
As of January 1, 2012, the California Probate Code was amended to include property less than $150,000 in the California Small Estate procedure. This brand-new guideline applies 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 estate (and Personal Property) for estates of $150,000 or less.
Unlike the California Small Estate Affidavit Procedure, listed in California Probate Code Section 13100 – which is an affidavit-based process that is completely totally free of court guidance, the procedure for Real Estate identified in this Area does require filing a Petition with the Probate Court.
However, the process explained in California Probate Code Section 13150 et seq. is NOT a complete probate, and is far less costly and normally far quicker than a complete probate.
Connect with an Estate Administration Lawyer with Ainer and Fraker 800-775-7612 www.AinerFraker.com today to learn more about the Probate Code requirements for the Petition to Determine Succession to Real Estate in California.
