The Trust Administration Lawyers here at Ainer and Fraker discuss how the Petition to Determine Succession to Real Estate in California might change the complete probate process for Estates less than $150,000.
In our previous posts, we went over why Avoiding Probate is an outstanding idea.
We likewise discussed how certain Assets Not Subject to Probate can prevent the Probate procedure, in specific conditions.
An earlier post went over the California Small Estate Affidavit procedure, where {personal {property| personal effects| possessions less than $150,000 could be dealt with without court guidance.
As of January 1, 2012, the California Probate Code was amended to consist of realty less than $150,000 in the California Small Estate process. This brand-new rule uses retroactively to all Estates filed after January 1, 2012, no matter when the Decedent died.
California Probate Code Section 13150 et seq. enables a Petition to Determine Succession to Real Property (and Personal Property) for estates of $150,000 or less.
Unlike the California Small Estate Affidavit Procedure, listed in California Probate Code Section 13100 – which is an affidavit-based procedure that is entirely devoid of court guidance, the process for Real Estate enumerated in this Area does require filing a Petition with the Court of probate.
However, the process explained in California Probate Code Section 13150 et seq. is NOT a complete probate, and is far less costly and typically far quicker than a complete probate.
Contact a Will Contest Attorney at Ainer and Fraker 800-775-7612 www.AinerFraker.com today to go over the Probate Code requirements for the Petition to Determine Succession to Real Property in California.
