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PROBATE PROCEDURE

Probate  Finance Probate

At each and every death these tasks must be accomplished:

Inventory - list all assets that must be handled in the probate.

 

Appraise - the Executor is allowed to appraise certain assets, but most valuable assets are appraised by a court appointed California Probate Referee.

 

Taxes – income and estate - must be completed and paid.  The estate tax return includes all interest the deceased had in any asset, not just the probate assets.

 

Creditors - through a court procedure creditors are either paid or eliminated.

 

Distribution - the assets are given to the beneficiaries named in the Last Will, or, if there is no Last Will, to the heirs as defined by California Statutes.

        At distribution an Accounting of all assets managed is normally given to the beneficiaries.

 

Also, in a probate procedure extensive court documents and reports are required.

 

 

Copyright © 2003 Law Office of J.R. Hastings
Last modified: 01/25/04

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