Most real property held in community between spouses and domestic partners used to be held in joint tenancy. Since 2001 (and 2003 for domestic partners), California probate law has introduced Community Property with Right of Survivorship (CPWROS).
Articles about Inventory and Appraisal
The normal rule, under the California probate code, is that you inherit a house with the loan, unless the decedent left a will in which he or she specifically stated otherwise. Click here to learn more.
If your loved one died without a will, you are probably wondering if their children can just come into his or her home and take what they want.
My mother had a trust and also a joint tenancy account with my brother. Can I make him account for the money he took from the joint tenancy account?
Maybe. In California, joint tenancy bank accounts are treated differently from joint tenancies in real estate.
Not all of a decedent’s assets will go through the California probate process. If the deceased had no titled or significant assets to his or her name, then the probate process may not even be necessary.
In California Probate, the assets of a deceased person need to be inventoried. The Probate Code requires a referee appraise the assets listed on the inventory.
When a person dies and leaves an estate, its value needs to be ascertained. The decedent’s gross estate is the fair market value at the date of his or her death of all property that he or she owned. Click here to learn about the differences between a gross estate and a net estate.
If you are unsure of whether or not your parents had a will or trust when they died, know what steps you can take to find out. Probate may be necessary.