Sacramento Probate Attorney: Understanding Probate and Last Wills

One of the aims of the probate court is to settle all the decedent’s financial debts. Volkov states that if debts far exceed estate financial holdings, the presiding judge could rule that inheritance property be sold to satisfy creditors. In this case, a skilled Sacramento probate attorney from a trusted firm like Generations can be relied upon to negotiate with creditors for a reduction of the estate’s debts.Meanwhile, if the estate includes real property with outstanding mortgages, the heirs named in the will could opt to pay off the mortgage...

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Sacramento Probate Lawyer: On the Duties of a Personal Representative

One important characteristic every probate representative or executor should possess is the ability to remain unbiased as regards the distribution of estate. After all, the executor must help resolve disputes that take place in the probate court. Consequently, being named a probate representative is a grave responsibility that requires patience and commitment.The probate process can take years to resolve, particularly if the will is contested or if claims against the estate are submitted. To ensure that everything proceeds as smoothly as possible...

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Sacramento Estate Planning: What Happens When One Dies without a Will?

Successful Sacramento estate planning minimizes uncertainties as to where a person’s assets will go and who gets them when one passes away. If you find yourself as the executor or administrator however, your job could be a bit more complicated if the person didn’t leave behind any will. If that is the case, then you’ll be subject to state probate laws regarding how to distribute property has not been included in the will. This is definitely a situation where working with an experienced estate planning and probate law firm is recommended. http...

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Sacramento Estate Planning Attorney Cites Need for Legally-Sound Wills

When an estate gets included under a will, it becomes a "testate" estate. A well-written will has more power than counterclaims and court orders. If the estate doesn't get included under a will, however, it becomes an "intestate" estate. In this case, the court determines who gets the assets based on intestacy laws of the decedent’s home state.Had Brown produced a well-written will, trustees and family members wouldn't have to play estate tug-of-war. Anyone can write a will, but a legally-sound one requires the know-how of an estate planning attorney...

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Ensure a Solid Estate Plan with Help from Sacramento Probate Attorney

Each of these documents contributes to a smoother transfer of estate to your beneficiaries. A will is required to establish your intention and desires in terms of how your property and assets would be distributed. Probate courts do their best to check on the validity of the will, and then to honor its content. Without a will, the probate court will administer the estate’s assets, according to state laws. A living will, on the other hand, is a legal document that clarifies your intentions about your medical treatment.Two other documents should not...

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Estate Planning Basics: Working with a Sacramento Probate Attorneys

One way to start things off with an estate plan is by hiring professional help. An experienced estate lawyer or probate attorney in Sacramento, such as the tax-smart, family-aligned team of estate and trust lawyers from Generations, will help you make the right decisions to create a sound estate plan where your family and financial goals are met, while avoiding the perils that create bad blood or rancor among estate beneficiaries.You can choose to let an estate planning and probate attorney in Sacramento, CA handle your case entirely, or you can...

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Sacramento Estate Planning—You Don’t Have to Be Rich to Set Up a Trust

To begin the process of setting up a trust fund, you will need to hire a Sacramento estate planning attorney and provide the details on all accounts and deeds that you intend to place in the trust. Keep in mind that the principle behind a trust is to remove an asset from your possession and transfer it to a legally-designated entity. Almost any type of asset—including houses, savings accounts, even money market accounts—can be placed into a trust.If you believe you are ready to set up a trust or would just like to talk to a professional and get...

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More Legal Matters From Your Sacramento Estate Planning Attorney

Durable Power of AttorneyA financial power of attorney, also called a durable power of person, helps carry out your decisions regarding your estate even when you’re not capable of making decisions anymore, so you should never neglect this. In it, you are appointing an attorney in-fact to stand in for you as your agent in case you are incapacitated physically or mentally.Advanced Health Care DirectiveAnother important designation that you need to choose is the person who will serve as your agent or representative, not with regards to your estate,...

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Why Hiring a Probate Attorney is a Good Idea

As a personal representative or executor of a testator who recently passed on, you have a lot of responsibilities on your hands. These include ensuring that all of a decedent’s assets are protected and properly inventoried, paying all taxes and debts, and making sure that the named beneficiaries receive their rightful part of the inheritance. All of this can be overwhelming, especially if you are court-appointed and not ready for the duties of the position. This is where probate attorneys come in. Their job is to guide an executor through the entire...

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Probate Law Tips: Dealing with Estate Creditors

Before you can do anything with your duties as executor of the will of your loved one, you will have to deal with prospective creditors as the first thing you will most likely need to do is to inform all the concerned people of the decedent’s passing. Whether or not you will be going through probate proceedings, you should still keep these tips in mind: Make a List List down all of the decedent’s known creditors and write their addresses and contact information as well. Whether it be a credit card company, a mortgage lender, or any other...

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Is Probate Still Needed When There’s a Will?

In a word: yes. Even if the testator passed away with a comprehensive and enforceable will, and even if there is little to no question as to the validity of its provisions, chances are your estate planning lawyer will still tell you that a probate proceeding is necessary. Why exactly is this so? Asset Transfer Process If the decedent died with sole ownership over some assets, the only way that these properties can be transferred in the name of their new owners is through probate proceedings. If there are co-owners on the other hand, provided...

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Preparing to Meet with an Estate Lawyer

It rarely matters how much or little you have in assets; as long as you have something to leave behind to your family after you pass, you should see to it that you make a last will and testament, if only to make sure everything’s in order. If you haven’t met with a probate lawyer yet, here are some things you are expected to do: Personal Information Of course, your lawyer will want to get acquainted with you and understand the reasons behind your decision to plan your estate. Oftentimes, attorneys personally interview clients to get personal...

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A Probate Attorney can Help Challenge a Will

Writing a will can save heirs and beneficiaries the time and resources needed to decide how the decedent's assets can be used to satisfy obligations to creditors and be distributed afterward. There are times, however, when an heir, a beneficiary, or a concerned party comes to contest the validity of a will. A probate attorney is necessary to prove a case that the will is, in fact, invalid. There are four common reasons why a will is challenged. These are: (1) the will wasn't signed in accordance with applicable state laws, (2) the testator...

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Two Ways to Work with a Probate Attorney

Estate planning is essential for people who have at least $100,000 worth of assets. This helps to avoid problems that could arise once you meet your untimely demise. Leaving a will is the most common estate planning tool, which essentially means that you leave specific instructions that must be followed upon your passing. This can include how and where you will be buried, who are your heirs and beneficiaries, and how your assets will be distributed among the heirs and beneficiaries. Your will shall be carried out by an executor you have appointed...

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What Can a Good, Planned Estate Do for You?

Estate planning is a tool to manage the transfer of properties to the beneficiaries in an effective way, either during lifetime or upon death. A lot of financially-conscious individuals are saying that planning needs to be done as soon as possible. Preferably, one should consult with a qualified estate planning attorney to tailor specific estate plans that meet personal goals and needs. But what can a good and planned estate do? Reduce or eliminate potential estate tax Make effective property transfers (during life and death) Make ...

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A Brighter Future with an Estate Planning Attorney

Life is indeed full of uncertainties; you may be strong and healthy today and fighting for your life tomorrow. If you have a wife and kids who depend on you, you would surely want to leave them financially stable and secure, in the event the inevitable comes. Leaving them with your properties and the rest of your estate without too much headache on their part is another factor to consider, and hiring an estate planning attorney is the key to making things easy. Having an estate lawyer on your side helps you cover all the complications that...

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Sacramento Probate Attorney Explains Probate Law Minutiae on Divorces

The inheritance tussle just goes to show the intricacies of probate law, especially when ex-spouses enter the picture, regardless of whether one is in South Africa or the U.S. Mandela worked with a prominent lawyer to write his last will. Whether you are a world champion of human rights, or an ordinary person, hiring a good Sacramento probate attorney firm such as Generations will help you distribute your assets equitably.Professional Sacramento probate attorneys have the knowledge and experience to sort things out. Even if conflicting interests...

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Sacramento Probate Lawyer Explains What Happens with Insolvent Estates

That’s because when a person passes away, his assets often enter into probate—the legal proceedings that govern transfer of property upon someone’s passing. Before you can receive a share of your parent’s estate, the will’s executor and a Sacramento probate attorney will notify all the creditors so that outstanding obligations can be paid off. This may include credit card debt, mortgages, and even hospital bills if the decedent was in bad health during his or her last days. Taxes and probate administration fees are also tallied and subtracted from...

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Probate Attorney in Sacramento Can Help Persons in the Midst of Change

An experienced lawyer overseeing your probate can remove the uncertainty that comes with it. They can expertly oversee the entire process, making sure that things are handled correctly.Probate services offered by a trusted probate attorney in Sacramento, CA, such as lawyers working with Generations, can also serve as a guiding hand to help avoid or abate emotional contests over the contents of the will. This can greatly reduce the chances of litigation and make the entire process run smoothly. http://www.generationsprobate.com/blog/industry-n...

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Sacramento Estate Planning Attorney on Generation Skipping Trusts

A lot of things can ruin a family’s fortune, such as messy divorces, serious illnesses, and bad business decisions. A generation skipping trust shields that fortune from these events so that future generations can still benefit from it. Of course, this type of trust is subject to special rules. For example, an inheritor can only receive $5.43 million tax free; if he or she gets more than that, the excess is subject to the highest estate taxes available. So before drafting this type of trust, consult first with an estate planning attorney in Sacramento,...

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Exercising Foresight with Your Estate Planning Attorney in Sacramento

If you want to leave something behind for your spouse, your children, or your grandchildren, the best way to understand more about your options is to consult with a knowledgeable estate planning attorney in Sacramento. Your legal counsel can educate you on the different alternatives used in estate planning so you can make smart, informed decisions and select the most suitable solution with confidence.Estate planning attorneys can help you comprehensively assess your assets and consider potential beneficiaries. They can recommend the proper ways...

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Getting a Sacramento Estate Planning Attorney and more Probate Tips

Almost anything can be automated these days, which is why there are websites that allow you to DIY (Do It Yourself) your Last Will, but many suggest that this isn’t the right way to go. With all the provisions of federal and state laws and other financial matters there is no simple way to draft a proper will. With so many laws to be aware of and so many potential pitfalls, it is highly advisable to get the expertise of a dependable Sacramento estate planning attorney. To have a clear idea on what you actually have to pass on to your heirs, you...

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Second Properties: How a Sacramento Estate Planning Attorney Can Help

Taking all the possible issues into account can get very complicated without the help of a seasoned Sacramento, CA estate planning attorney. The provisions of the irrevocable trust have to be carefully figured out if you want to keep your vacation home intact long after you and your spouse are gone, and keep it from being a source of chaos among your heirs. An esteemed Sacramento estate planning attorney, like those at Generations, can also guide you through other tools that can help you achieve a smooth transition of ownership for your vacation...

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The Purpose of Proper Estate Planning

Estate planning ensures that your wealth is distributed in a manner that is fair and in accordance with your wishes. In preparing an estate plan, you need to be as comprehensive as possible so it can be executed smoothly. You can turn to a Sacramento probate attorney for invaluable legal advice on constructing a thorough estate plan. Apart from taking into account all the pertinent guidelines and laws, the estate plan should serve two main purposes: avoid conflict and assume preparedness. Avoiding conflict Estate planning involves naming...

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What Happens During Probate?

Probate is a court-supervised process that entails distributing the assets of a deceased person or decedent among the appointed heirs after all financial liabilities and taxes have been settled. In the U.S., only 16 states abide by the Uniform Probate Code (UPC) in its entirety. All other states have adopted certain parts of the UPC yet follow their respective probate procedures. Generally, a decedent’s last will enters probate within a month or two after death. If a person died intestate or without leaving a will, the probate court appoints...

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The Importance of Writing a Will

All the wealth you’ve acquired through the years may give you a sense of accomplishment, but you can’t take it with you to the afterlife (if you believe in its existence, that is). You surely want to pass your wealth on to your family and/or other equally deserving people when you’re gone. Such an instruction must be written down in a form of a will and testament. A will is an estate planning element that appoints a probate and identifies heirs to a definite asset. Despite its known significance, only one-third of American adults have their...

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Does Everyone Need Estate Planning in California?

Technically speaking, the answer to that question is ‘yes’, since almost everyone in California owns an “estate”. According to the state’s Civil Code, this term refers to any property that was acquired through inheritance or was owned for a set amount of time. Although estates may vary in size and value, they’re still considered a person’s most important assets and must, therefore, be preserved. However, estate planning doesn’t only involve the writing and administration of a person’s last will and testament. It also deals with the supervision...

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Working with the Right Probate Attorney

Probate lawyers are hired to represent the parties involved in a probate proceeding. They can act on behalf of the deceased, or that of the beneficiaries, as well as other parties who may have an interest on the deceased’s assets. From analyzing the last will, to processing the inheritance of the beneficiaries, it is the probate attorney's job to ensure the process goes as smoothly and as quickly as possible, while protecting their client’s rights. Those needing the services of probate lawyers thus have to make sure that they work with one...

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What Is the Role of a Probate Attorney?

If you’ve already set up a last will and testament that involves more than $150,000 worth of assets, you can expect a probate lawyer to administer it once you’re gone. A probate lawyer is a legal representative specializing in asset distribution following the probate process. Except in cases where your assets are held in joint tenancy or in a living trust, your heirs will need a probate attorney to help them through the probate process. The probate process is complex and lengthy, some taking more than six months to be completed. Without a...

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Why You Need an Estate Planning Attorney

The California Probate Code is the law that regulates all property transfers from one person to another in the state, due to death or other reasons. While some of the statutes found in the Code can fall in the realm of “common knowledge”, the Code actually consists of at least 11 Divisions tackling a myriad of details. These include specific matters like judicial proceedings for trust funds, distinguishing “trustees” from “beneficiaries”, and even the right way of writing a last will and testament. Such specifics may be too complicated for...

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Estate Planning 101: What is California Probate?

“Probate” refers to a court case that deals with the process of transferring a deceased person’s property to his or her heirs. While this may sound simple and clear-cut enough, there are actually a variety of matters that need to be settled first. These include assessing the true value of the properties, paying final bills and estate taxes, and the like. In the State of California, a probate may or may not be undertaken, depending on certain circumstances. For example, the assets of a deceased person don’t need to go through probate if they’re...

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Understanding Probate Laws: How a Sacramento Probate Attorney Can Help

I have been a Sacramento probate attorney for many years and agree that the probate code needs work. Considering that inheritance disputes can ruin family relationships when handled poorly, the Wiki Bill will hopefully make probate settlements easier and fairer. However, what can be considered as a “favorable” amendment to the state’s probate code is subjective. I believe the real solution to streamlining our probate process is for the residents of Sacramento to work with Sacramento probate attorneys to create trust-based estate plans that can...

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Special Needs Trust: Call on an Estate Planning Attorney in Sacramento

As a trust attorney in estate planning in Sacramento, I have helped many parents create a special needs trust for their disabled children. One crucial factor of this kind of trust is naming the trustee. Ideally, the trustee should be someone whom your disabled child is already acquainted with, like your spouse, a sibling, a relative, or a family friend. The trustee you name should also have a willingness to serve the needs of the child when you are gone. If the trustee is well-versed in financial management, this would be very helpful as well. Estate...

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Blended Families: How a Sacramento Estate Planning Attorney Can Help

One common issue is stepchildren. Understandably, married couples with families from previous relationships can get entangled in the many legal and emotional issues surrounding inheritances. For example, some parents might want their natural children to get all or most of their assets when they die, while others might want their stepchildren to benefit from these assets as well. When looking for a trust attorney in Sacramento or wherever you happen to live, make sure they have planned and administered many, many estates for blended families before...

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Understanding Probate Laws: How a Sacramento Probate Attorney Can Help

I have been a Sacramento probate attorney for many years and agree that the probate code needs work. Considering that inheritance disputes can ruin family relationships when handled poorly, the Wiki Bill will hopefully make probate settlements easier and fairer. However, what can be considered as a “favorable” amendment to the state’s probate code is subjective. I believe the real solution to streamlining our probate process is for the residents of Sacramento to work with Sacramento probate attorneys to create trust-based estate plans that can...

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Special Needs Trust: Call on an Estate Planning Attorney in Sacramento

As a trust attorney in estate planning in Sacramento, I have helped many parents create a special needs trust for their disabled children. One crucial factor of this kind of trust is naming the trustee. Ideally, the trustee should be someone whom your disabled child is already acquainted with, like your spouse, a sibling, a relative, or a family friend. The trustee you name should also have a willingness to serve the needs of the child when you are gone. If the trustee is well-versed in financial management, this would be very helpful as well. Estate...

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Blended Families: How a Sacramento Estate Planning Attorney Can Help

One common issue is stepchildren. Understandably, married couples with families from previous relationships can get entangled in the many legal and emotional issues surrounding inheritances. For example, some parents might want their natural children to get all or most of their assets when they die, while others might want their stepchildren to benefit from these assets as well. When looking for a trust attorney in Sacramento or wherever you happen to live, make sure they have planned and administered many, many estates for blended families before...

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Measures to Reduce Probate Rates in Sacramento

Holding a probate upon the death of an estate owner has a reputation of being a costly but necessary process since it allows the assets to be distributed to the rightful beneficiaries. In cases where there is no probate process, the assets left behind by the deceased might not go to the intended as stated in the will. Fortunately, there are measures to ensure a smooth distribution of assets while reducing probate rates at the same time.  Normally, a will appoints an executor who is responsible for handling the distribution of the estate....

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What to Expect in a Probate

Probate is the legal process held to determine how the estates ($100,000 or higher in total and in sole ownership) of a deceased are to be distributed. However, the probate can become lengthy and complicated if the deceased failed to come up with a valid estate plan during his lifetime, and the family may have to spend more just to get through the process.  The properties of the deceased will initially be distributed to his or her creditors; liabilities must be paid off first before the properties can be distributed among the beneficiaries....

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Choosing Your Will’s Executor

If there’s one thing that all adults need but many do without, it’s a last will and testament. So if you haven’t yet, schedule an appointment with an estate planning attorney to avoid inheritance problems later on.  Of course, your attorney will also require you to name an executor—the person who will carry out your will’s mandates. Yet how do you nominate someone for such an important task? Listed below are a few tips:  The Right Person  Many people name their spouse, children, sibling, or best friend as their executor, but...

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How to Talk to Your Parents about Estate Planning

Few topics are as uncomfortable as discussing estate planning with your parents. After all, you’re asking them to detail how their assets will be distributed should they pass. An awkward subject though it may be, estate planning ensures that inheritance problems will not add to the heartache you will feel when your parents die. Yet how does someone bring up this conversation with their parents? Below are a few tips to help you out:  Don’t Wait for a Crisis  A lot of times, people only discuss estate planning when their parents...

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Things You Should Ask Your Probate Lawyer

Typically, when someone writes a will, he or she must specify or name an executor. Oftentimes, testators choose those who are close to them, specifically someone whom they trust wholeheartedly. If you are one of these people chosen to be an executor, here are some things you need to ask the probate attorney: Do I have to serve as an executor? If you feel that you don’t have the time, skill, or willingness to take on the job, you have the option to renounce the appointment. The alternate executor named in the will can step in, or if no one is...

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How a Probate Lawyer Can Help an Executor

You’ve been named as the executor of a late loved one’s will, but have no idea on what to do. A good move to consider is to hire a probate attorney for legal assistance. Take note that as an executor, you’re entitled to hire a probate attorney whose fees can be reimbursed or paid from the estate’s assets. Hence, if the estate is complex or likely to be contentious, there’s no reason for you not to work with a lawyer. Other than helping you avoid mistakes with the paperwork and ensure that you meet all the deadlines, a probate lawyer can...

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Never Too Early: Estate Planning for Young Adults

Whenever they hear the terms estate planning or last will, people often immediately associate them with old people or individuals with terminally ill diseases. You don’t have to be one of these people to plan for the future, though, since, as has been proven countless times, life is simply unpredictable, and there’s nothing better than being prepared for the worst. Whether you’re in your late 20s, mid 30s, or early 40s, it would do you well to consult an estate planning attorney in Sacramento and get started on your estate plans. You should...

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Probate Facts: Passing Down Your Vacation Home

The notion of passing away is never an easy thing to think about, but when it all boils down to it, one will have to make a plan for the benefit of the ones he or she will be leaving behind. If you have considerable property or assets, you should already be thinking about how to divide it among your heirs. While money could easily be subdivided, your real property investments like say, your vacation home, may prove to be a challenge. One of the first things a couple has to consider about whom to entrust their home to is the level of interest...

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