In most cases, probate is a relatively straightforward process in California. But unexpected twists and turns are commonplace. When they occur, it is much easier, and much less expensive, for a probate litigation attorney to hit the ground running rather than start from square one. A probate administration lawyer also relieves executors of the more mundane details while giving them peace of mind about the entire process.
Archimedes Law Group has substantial experience in probate administration and a well-deserved reputation throughout Southern California for attention to detail. Since the probate administration process is very detail-oriented, we can provide the kind of legal assistance your family needs. At the same time, your legal team never loses sight of the big picture. Our goal is the prompt and equitable resolution of your probate administration matter.
Is Probate Administration Necessary in California?
With regard to the capital gains tax, the IRS calculates the basis differently for inherited property. The difference is often significant for recipients from probate estates.
While we do provide real estate litigation services, we don’t practice income tax law, our experience in probate administration allows us to guide you in obtaining advice from a seasoned tax professional which may allow heirs to save thousands of dollars in taxes. We work closely with our clients to make sure they take advantage of every favorable tax treatment that is available.
How Does Archimedes Law Help With Probate Administration?
If probate administration is required to ensure the distribution of estate assets in accordance with the deceased’s will, an initial petition must be filed in probate court. Typically, a judge will then issue “letters” — the formal document identifying the personal representative of the estate who is to act as the executor.
After the letters are issued, the executor or a representative can obtain an estate tax identification number to open a bank account while estate creditors are given 120 days to make claims on the estate. During this period, the executor’s main responsibilities are identifying claims and securing the property. Securing the property typically means
- Maintaining insurance on real property and any other assets
- Streamlining payments to any outstanding creditors
- Continue making payments on any mortgage or other obligations of the deceased
- Pay all legally required medical bills or any related expenses If there is not enough money in the estate to satisfy all these obligations, state law sets priorities
After all current obligations are paid, including any estate taxes, and any creditors have been paid, the executor can distribute assets and ask the judge to close the estate.
The professional legal team at Archimedes Law Group helps file initial petitions and guides the executor through every phase of the probate administration process to ensure that all outstanding debts are promptly paid and all remaining funds are legally distributed in accordance with the deceased’s will.
What Are the Tax Consequences of Selling Inherited Property?
With regard to the capital gains tax, the IRS calculates the basis differently for inherited property (you can read more about IRS laws regarding inherited property and taxable income here). The difference is often significant for recipients from probate estates.
While we do provide real estate litigation services, we don’t practice income tax law, our experience in probate administration allows us to guide you in obtaining advice from a seasoned tax professional which may allow heirs to save thousands of dollars in taxes. We work closely with our clients to make sure they take advantage of every favorable tax treatment that is available.
How Long Does It Take to Probate an Estate In California?
From start to finish, probate usually takes about twelve to eighteen months. Common delays include a challenge to the will’s validity, difficulties locating all the named heirs, and issues with estate creditors. Individual executors often lack the resources to deal with these matters, but the experienced probate administration attorneys at Archimedes Law Group have the knowledge and wherewithal to easily overcome these challenges.
In addition to probate administration services, attorneys Silvio and Theo also provide a variety of probate and trust litigation services to help bring resolution to challenges against a will or other delays to the completion of the probate administration process.
As in many other areas of life, an attorney helps ensure that your probate administration is as efficient as possible in terms of time and treasure.
Archimedes Law Group —
Your Probate Administration Attorney
For a free consultation with an experienced probate administration attorney, contact Archimedes Law Group. Our office is located in Downtown Los Angeles, but we regularly meet with clients throughout the county.
