Mar
12
2018
0

What Are The Intestate Rights Of Inheritance In Probate Upon The Death Of A Married Person?

The rights of inheritance from a person who died intestate, and who was married at the time of death, will depend upon the nature of the particular asset being probated. Assets of the decedent who is a married person can be community property, quasi-community property or separate property.  Quasi-community property is property acquired in another state that would have been community property if it had been acquired in California. Basically, all community property and quasi-community property will pass to the surviving spouse. The separate property of the decedent will be distributed to the surviving spouse and to other relatives, depending upon who survives. So for instance, if there is a surviving spouse and surviving children, one-half will go to the surviving spouse and one-half will go to one child, if there is only one child. If there is more than one child, one-third will go to the surviving spouse, and two-thirds will go to the children in equal shares. Other rules will apply if there are no children or grandchildren.

This information is not to be taken as legal advice, is general in nature, and you are encouraged to see your Walnut Creek Probate Attorney.

Michael J. Young

Walnut Creek, CA Probate Attorney

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

www.WalnutCreekElderLaw.com

Mar
08
2018
0

What Assets Can Be Administered By The Probate Court When The Decedent’s Will Is Filed?

Only certain assets left through a person’s will can be administered through a probate proceeding.

For a married person, all of his or her separate property, which is in that person’s name alone, can be distributed through a probate court proceeding. Separate property is identified as what was owned by the decedent before marriage. In addition, separate property refers to assets acquired during marriage by gift or inheritance. If the decedent is single, all assets in the decedent’s name alone can be distributed through a probate proceeding. For community property, one-half of each asset which is titled in the couple’s names as community property can be handled through the probate court process. In addition, the portion or percent owned by the decedent with others as tenants in common can be subject to the probate court process. Assets that are not registered in the decedent’s name, such as furniture, coins and jewelry can also be distributed through probate.

This information is not to be taken as legal advice, is general in nature, and you are encouraged to see your Walnut Creek Probate Attorney.

Michael J. Young

Walnut Creek, CA Probate Attorney

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

www.WalnutCreekElderLaw.com

Mar
02
2018
0

How Long Does A Probate Usually Take?

Probate proceedings typically take about a year to complete, and can take even longer depending on the assets and complexities of the case. After the petition is filed, notices are given and probate publication is made. Probate statutory time frames must be adhered to, and apply to various aspects of the probate, including filing dates, publication and creditors’ claims. If there are creditors’ claims against the estate, the probate can take even longer in order to resolve the claims. If beneficiaries contest certain aspects of the probate, such as the amounts of distributions and which parties are to receive which distributions, the probate proceeding could take even longer. Real estate can be sold during the course of a probate administration, even though the probate is being contested. When real property is sold during the course of a probate proceeding, the proceeds of sale are distributed from escrow to the probate bank account, pending completion of the probate proceeding.

This information is not to be taken as legal advice, and you are encouraged to see your Walnut Creek Probate Attorney.

Michael J. Young

Walnut Creek, CA Probate Attorney

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

www.WalnutCreekElderLaw.com

Mar
02
2018
0

What Happens To A Mortgage During Probate?

Many probates involve real estate where a mortgage or loan, is secured by a deed of trust which is recorded against title of the subject real property. Properly recorded mortgages survive the death of the borrower/owner of the property, and remain as liens against the real property through probate. As a result, mortgages are not subject to probate creditors’ claims and time limits requirements for making a claim against probate. If a mortgage is not paid off during probate administration, the lender may eventually foreclose against the real property, even during the course of a probate proceeding. The probate administrator is not required to pay off the loan through probate. It is important to communicate with the lender through the course of the probate. If the lender knows that the subject real property is being marketed for sale during the probate, the lender will usually hold off on foreclosing, pending sale of the real property through the probate proceeding.

This information is not to be taken as legal advice, and you are encouraged to see your Walnut Creek Probate Attorney.

Michael J. Young

Walnut Creek, CA Probate Attorney

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

www.WalnutCreekElderLaw.com

Mar
01
2018
0

Items Generally Exempted for Medi-Cal Qualification

If you apply for Medi-Cal, the following list includes items that are generally exempted for qualification.

  • Your home is exempted if it is your principal residence. When applying for Medi-Cal, you will confirm on the application that you intend to return home after your stay in a skilled nursing facility. Medi-Cal requires a “subjective intent in writing to return home” to establish the home as an exempt asset. We have our clients execute an “intent to return home” form when we prepare their asset protection estate plans.
  • IRAs, 401k’s and other “qualified accounts” are exempt. The applicant however must be taking RMD’s or some amount of principal and interest on a periodic basis.
  • Not more than $2,000 in cash in the applicant’s name, which could include savings and checking accounts.
  • One care is exempt. If a couple owns two cars, we request an exemption for the more expensive car.
  • Term life insurance is exempt, but whole life insurance cannot have more than $1500 cash value.
  • Burial plots are exempt, and prepaid irrevocable burial plans are exempt.
  • Qualified or work related annuities are generally exempt. Other annuities may be exempt according to the Medi-Cal regulations.
  • Household furnishings are exempt.

This list is not exhaustive, and this information is not to be taken as legal advice. You are encouraged to see your elder law and probate attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com, we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, probate avoidance, wills, trusts, powers of attorney and probates. We also help Baby Boomers and families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

Michael J. Young

Walnut Creek Elder Law

Elder Law, Asset Protection,

Medi-Cal and Probate Attorney

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

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