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An administrator—is an individual appointed by the court in cases where someone dies without leaving It is important to note that the person appointed by the court as an administrator is the one responsible for paying the court fees. Like an administrator, an executor is also responsible for paying the court fees incurred during a probate Court oversight — In some cases, the probate court may require the administrator or executor to obtain

His parents needed to petition the Los Angeles Superior Court to be administrators of their son’s $1.4 If both parents died, a court would have to determine a legal guardian for a child who is a minor.

Knowing how to obtain permission from the court and understanding laws around opening a deceased person instructions from the financial institution on how to gain entry into the safety deposit box Obtain court A certified copy of the death certificate A letter from an executor or administrator selected by a probate court An affidavit proving one’s identity and relationship to the deceased Any additional documents

And without specific instructions from the deceased, an estate may be fought over in court by family

NASDAQ.com’s recent article, “5 Smart Estate-Planning Steps to Avoid Probate,” explains that when you pass away, your possessions and property go through the probate process. Non-probate assets are those that are jointly owned by you and your spouse, like bank accounts, as well In addition, probate can be expensive. If you gift property when you are alive, it does not undergo probate when you die.

If you want to keep your vacation house in the family, start planning. If you don’t include it as part of an overall estate plan, it can result in family disagreements. Money’s recent article, “4 Questions to Ask Before Passing Down the Vacation Home to Your Kids,” suggests that you ask yourself about these issues to make sure you’re making the best decision for your family. Who Really Wants It? It’s not uncommon for couples to want to leave vacation homes to their children (or other family members) as a way to preserve the associated memories. Maybe that’s why they miss a critical step—seeing whether family members actually want to own it. What’s the Best Form of Ownership? There are several options. One of the easiest is to leave it outright in your will to specific family members. But this may create more complexities for your heirs—and possibly disagreements. Another option is to pass down the home through a trust, which can help alleviate some of the resentment from outright ownership. Who’ll Pay for Upkeep? Vacation homes can be expensive. Your children might not be able or willing to cover those bills with their own money. A key consideration is whether to set aside additional money to cover the home’s ongoing costs. Many families who set up a trust leave extra money to cover operating costs for at least five years’ worth of expenses. That’s enough to pay for the home in the short term. The children can see if they actually want to keep it, and who really wants it. Keeping the vacation home in your family may not be possible. You can draft your trust so that a sale of the house can be “forced” if, for instance, a majority of the trust beneficiaries want the vacation home to be sold. The trust could give each beneficiary the right of first refusal to purchase the house for its appraised fair market value. And if no one wants to buy it, the trust can require that it be sold to a third party. The proceeds would be divided among the heirs. With a family vacation home, it’s important to take steps to assess whether it’s the right thing for your family to inherit and how it would be cared for over the years. Reference: Money (July 18, 2016) “4 Questions to Ask Before Passing Down the Vacation Home to Your Kids” #AssetProtection #EstatePlanningLawyer #EstateTax #ProbateCourt #FamilyTrust #Inheritance

jointly owned” automatically goes to the surviving co-owner (typically the spouse or child) without probate Probate is the judicial process that distributes a deceased person’s assets. Reference: Huffington Post (March 28, 2016) “The Consequences of Dying Without a Will” #Court #HoustonEstatePlanning

If you move south but still plan to list a friend based in New York as your executor, Florida probate court will not allow them to represent you, which may cause a problem. Adding a new property to your estate plans helps keep it out of probate at the time of your death.

Start an Inventory You may be required to file an official inventory list with the probate court if their will has to be probated. The team of experienced estate planning and probate attorneys at Your Legacy Legal Care will work with

However, the kids were young, and the money went into a court-controlled account that she couldn’t get to without going to court for appointment as their guardian. As a result, she had to get permission from the court every time she wanted to use the funds.

If you pass without a will, the care of your children will be determined by the court rather than according (And You) Should Reconsider” #AssetProtection #Guardianship #EstatePlanningLawyer #ProbateAttorney #Probate

Early inheritance has saved you and your loved ones a lot of future headaches at the probate court. Schedule a strategy session with us so that we can pursue a worthwhile course of action.