The loss of a loved one often creates unanticipated responsibilities and complications for those left behind. Whether the person prepared an Estate Plan, left a simple Will, or nothing at all, there are numerous financial and legal obligations which must be met. Yorozu Law Group provides comprehensive support for Executors and Trustees tasked with managing a person’s final affairs.
Probate is the court-supervised process of administering a Will. Generally, when a Will “goes through probate,” it means that the Will is filed with the Probate Court, and under the Court’s supervision, the named Executor is confirmed, the Probate Estate is gathered, creditors are given a chance to make claims, debts are paid off, and the remaining assets and property are distributed to the beneficiaries under the terms of the Will.
A person who dies without a Will dies “intestate.” If a person dies intestate, the State of California has a default plan of distribution that will govern the distribution of the person’s Probate Estate. The estate will go through the full Probate process, and the remaining Probate Estate will be distributed in accordance with California’s intestate succession statutes.
While an effective Estate Plan generally avoids Probate, there are still significant administrative duties required with a Trust. The Trustee of the Trust analogous to the Executor of the Will. The Trustee will garner and manage all Trust assets, pay off debts, report and pay taxes, and distribute assets to beneficiaries under the terms of the Trust.
Whether through Probate or through the terms of the Trust, administering an estate can be a complicated process. Yorozu Law Group will help you navigate through the process and make sure everything is taken care of as efficiently and effectively as possible.
If you have questions about our services, we would be happy to discuss how we can be of assistance. Please email us at info@yorozulaw.com or call 415.707.5000.