All current beneficiaries are scheduled to receive their new cards no later than December, 2019. In California, the new cards should arrive between April and June, 2018.
Do not be afraid of calling him or her to ask questions. Find out if your required minimum distributions from your qualified accounts, like IRA’s, are being made properly.
When a Medi-Cal recipient dies, the state will attempt to recover from the recipient’s estate, what the state paid for that person’s care during his or her lifetime. Before January 1, 2017, the term “estate” referred to any assets in the recipient’s name at the time of death. As of January 1, 2017, as the […]
Another red flag for elder abuse that we have seen is the sudden advent of relatives or old friends, who have not been seen for years, who are now expressing great concern and interest in “helping” the older person.
A property tax re-assessment of the home in a transfer from a parent to a child can be avoided under California Proposition 58. For instance, when a probate is closed and the home is transferred to a child, or if the home is transferred to a child through trust administration, we can complete the “Claim […]
Wait three days before you sign anything that requires spending your money. During that time, ask other professionals, family members and friends what they think about the deal or contract.
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Letters Testamentary and Letters Administration in California Probate
When the Personal Representative of the Probate Estate is appointed, whether that person is identified by the court as the executor or administrator of the estate, “Letters Testamentary” or “Letters Administration” will be issued to that person by the court. The Letters give the personal representative authority to carry out certain business of the probate […]
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The Personal Representative of the Probate Estate
When a probate is filed, the court will appoint a Personal Representative of the estate. This personal representative will be identified in the court proceeding as the executor or administrator of the estate. This person will sign and file the various documents that will be required by the court through the course of the probate […]
Assets that pass to a surviving spouse can be confirmed to the surviving spouse, through a petition process in probate court. This is not a full probate, and is called a “Spousal Property Petition”. This petition process usually takes around two months to complete, as opposed to around a year that is needed to complete […]
Not all assets are subject to probate. For instance, life insurance policies that name a specific beneficiary are not subject to probate. If however, you name “my estate” or “my children” as beneficiaries, a probate will probably be required. Retirement accounts, also known as “qualified accounts” like IRA’s and 401K’s, are not subject to probate […]