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Steps Of The Probate Process Some assets are distributed to heirs by the court (probate assets) and some assets bypass the court process and go directly to your beneficiaries (non-probate assets) Irvine Probate Law Also review any outstanding bills and debts and decide whether/how they must be paid.
Estate planning isn�t about the end of life,it�s about preserving the life you love When a loved one or family member dies with just a Will,or no estate plan at all,his or her family is needed to put the estate through a court-managed process called probate Irvine Probate Law Trust Lawyer Effectively resolved probate or trust administration also requires expert accounting and tax preparation.
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You’ll need to ensure the estate’s assets can cover all debts before paying them If not,the state will prioritize creditor claims component.
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You’ll also need to pay all applicable taxes,as well as file a final income tax return on the estate.
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In addition to the petition,you will need to file a valid will,if one exists,and the death certificate.
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In addition to the petition,you will need to file a valid will,if one exists,and the death certificate Irvine Probate Law Living Trusts Collect,inventory and appraise all assets that are subject to probate and present them to the court,such as:.

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Once everything has been distributed,you will submit receipts and records of everything to the court and then ask for the estate to be closed and to be released from the role of executor.
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Irvine Probate Law Probate Lawyer A trust administration is NOT a court-supervised process,yet its ultimate goal is also the transfer of property from an individual who has died (the �decedent”) to that individual�s beneficiaries who are identified in the living trust.
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