Tag Archives: Probates for Realtors

The Probate Spousal Property Petition

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 […]

Assets That Are Not Subject To Probate

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 […]

Medi-Cal Treatment of Reverse Mortgages

Reverse mortgage loans are designed for homeowners who are 62 years of age or older, and who have a substantial amount of equity in their homes. The amount of equity is usually the difference between the fair market appraised value of your property, and the amount due on existing mortgages. As the borrower under a […]