The Estate Administration Lawyers here at Ainer and Fraker talk about how the Petition to Determine Succession to Real Estate in California might change the complete probate procedure for Estates less than $150,000.
In our prior posts, we went over why Avoiding Probate is an outstanding concept.
We likewise discussed how certain Assets Not Subject to Probate can avoid the Probate procedure, in certain conditions.
An earlier post went over the California Small Estate Affidavit procedure, wherein property less than $150,000 could be disposed of without court supervision.
As of January 1, 2012, the California Probate Code was amended to consist of property less than $150,000 in the California Small Estate procedure. This new policy uses retroactively to all Estates filed after January 1, 2012, no matter when the Decedent passed away.
California Probate Code Section 13150 et seq. permits for 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, listed in California Probate Code Section 13100 – which is an affidavit-based procedure that is completely devoid of court supervision, the process for Real Estate enumerated in this Area does require submitting a Petition with the Probate Court.
However, the procedure described in California Probate Code Section 13150 et seq. is NOT a complete probate, and is far more economical and usually far quicker than a full probate.
Reach out to a Probate Lawyer at Ainer and Fraker at 800-775-7612today to discuss the Probate Code requirements for the Petition to Determine Succession to Real Estate in California.