After the passing of a family member or friend, the last thing you likely want to deal with is a complicated process for winding up your loved one’s affairs. Administering an estate or trust requires careful attention to the laws, rules, and regulations surrounding California probate and trust administration. Failing to follow the proper procedures could cause substantial harm to the estate. Even if you are not in charge of administering the estate or trust, it is important to understand the administration process to ensure that your rights as an interested party are carefully protected. Fortunately, our free guide provides an easy-to-understand overview of the California estate administration process.
Why do I need guidance when administering a trust or estate?
An experienced California probate and trust administration attorney can guide you through the process of administering the estate or trust of your loved one. Even if you are not settling the estate, an attorney can help to ensure that your rights as a beneficiary or heir are protected.
Having a knowledgeable professional in your corner is very important for many reasons, including the following:
- Interested parties could pursue claims against you or the estate if you do not properly follow California law and procedures.
- Making mistakes during the process could result in hefty probate court costs.
- Mistakes could result in wasting the estate or trust assets as the administration process is dragged out.
- Failing to properly understand the procedure for an administration can tie up the assets of the estate or trust for lengthy periods of time.
What are some steps to expect during a California probate and trust administration?
Whether you are the person settling the estate or a beneficiary, there are many steps to take during the process of administering a trust or estate. Some of these steps may include the following:
- Petitioning the court to allow the will
- Assenting to an action of the executor or trustee
- Providing interested parties with copies of the trust.
- Managing the assets of the estate or trust
- Providing proper notice to interested parties
- Keeping an accurate and complete accounting of the assets
- Paying certain debts of the estate
- Making distributions to the beneficiaries or heirs