There are six Duties and Liabilities of the personal representative (administrator or executor) under the California Probate Code. 1. Managing Trust Assets Be prudent; keep assets separate; earn income from the assets, if possible; observe legal restrictions on asset management. 2. Inventory of Estate Property Locate the property; determine its value; file inventory and appraisal [...]
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Listed are the top five concerns of the typical estate planning client. 1. Minor Children Parents of minor children want to make sure that responsible parties are prepared to step in and raise their children if they cannot. They will want to appoint a Guardian of the Person and a Guardian of the Estate, who [...]
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Posted in Trust Administration, probate on Apr 23rd, 2010
One potential probate client question: If a payer (an executor under a will, or a trustee of a trust) overpays a beneficiary when a family member dies, does the payer have a right to ask for the money back? Absolutely! You do not have a right to keep funds given by mistake. Consult a local [...]
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Posted in Daniel Printz, probate on Feb 2nd, 2010
Quickly resolve cases in probate while protecting your client’s legacy. Are you equipped to efficiently take estates through probate while still preserving an inheritance for beneficiaries? Join us and receive practical procedural tips shared by experienced practitioners that will assist you in handling the critical details and functions of a successful probate practice. March 23, [...]
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Posted in Uncategorized on Aug 19th, 2009
I will be speaking on Estate Administration for an upcoming NBI seminar entitled “Refining Your Probate Skill: Streamlining Processes and Overcoming Obstacles.” The seminar will be held in San Diego on March 23, 2010, from 9:00 a.m. to 4:30 p.m., and will provide continuing education credits.
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Estate Planning begins with the following steps: 1. List your Assets: Make a list of everything you own, including all bank accounts, investments, real estate, insurance policies, and any other valuable items of personal property. Split the list into assets with named beneficiaries (such as insurance policies and retirement plans), jointly held assets, and assets [...]
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Posted in Estate Planning, Living Trusts on May 25th, 2009
What are the fees to Probate an estate? In California, both the personal representative (an executor or administrator) and the personal representative’s attorney are entitled to compensation. If the Will specifies the compensation, then that’s all they can receive (P.C. 10812). If the Will doesn’t specify, then the personal representative and the attorney are each [...]
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Posted in Living Trusts on Mar 17th, 2009
Revocable Living Trusts are the key tool in avoiding the expense and delays of probate, a court-overseen process for estates with over $100,000 in gross assets. You should strongly consider a Revocable Living Trust if any of the following are true: 1. You own real property 2. You have over $100,000 in gross assets 3. [...]
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