Entering the world of Wills, Trusts and probate can be confusing. One of the first questions people often ask is: what is the difference between a Trustee and an Executor? To put it simply, a Trustee is the person who oversees a Trust, while an Executor is the person who oversees a Will, which often
When do you need to probate the assets of a decedent? First of all, let’s make sure we know what “probate” means–it sounds like a medical condition. But in fact it is simply a court process where a decedent’s assets are taken over by an appointed “personal representative”, the last debts and bills of the
The probate process is probably one of the most archaic procedures we still have in our legal system. Probate simply means to prove-up a Will—it’s the process where a Will is determined to be valid by the Court, it is then “admitted” to probate (as we say), an Executor is appointed and the administration of
In an earlier post we described what probate is and that it only applies to assets titled in the name of the decedent at the time of her death. Now we want to discuss how to start the probate process (it’s just a court process after all).
Handling a California probate can be summed up
What happens when a business owner tragically dies or suffers a sudden incapacity and there is no one named to succeed him in control of the business? The utility bills, employee payroll, vendors, and a myriad of other expenses, will not be paid, and cannot be paid until an authorized person is appointed by the