7 Reasons Why A Large Estate Takes Longer To Probate In California
The Grossman Law Firm, APC · · (951) 523-8307
With a small number of exceptions, estates in California are administered in much the same way, regardless of their overall size. Moderate estates face the same procedural requirements as their larger counterparts. If an estate is large, however, it may take longer overall to complete the probate administration process. Wondering why a large estate takes longer to probate?
The following are seven reasons why a large estate takes longer to probate in the completion of a probate administration:
- First of all, larger estates may have more complex tax issues than smaller estates. Tax returns may need to be filed for each year that the estate earns income. Estate tax returns may be due. In addition, the decedent may have owed taxes for the final year of his or her life.
- Also, larger estates may require complex valuations and appraisals in order to determine sufficient values of assets within the estate.
- Additionally, larger estates may involve ongoing trusts for the benefit of beneficiaries or charitable organizations.
- Larger estates may also require the assistance of various professional advisors, such as tax professionals and financial advisors.
- Furthermore, larger estates may involve distributions to multiple generations.
- In addition to involving distributions to multiple generations, larger estates may include assets that are difficult to locate and manage.
- Finally, larger estates may have a more assets to oversee than smaller estates.
Fortunately, finding the right lawyer can help to ensure that a probate administration is completed as quickly as possible, regardless of the size of the estate. Our article, “How to Choose a San Diego, California Probate Attorney,” provides helpful guidance on locating the best professional for your matter. In conclusion, to learn more about administering estates, contact an experienced San Diego probate lawyer today. Call our toll-free number at (888) 443-6590 for a consultation.