Best Consumer Protection Lawyers in Cupertino, CA

Probate is the legal procedure applied to an estate when someone passes away. This court-supervised proceeding involves the authentication of several parties and the assessment of numerous assets. It involves authenticating the will or living trust of the deceased party, approving the executor, and determining how the estate is distributed. There are two primary probate procedures: Informal probate is a relatively simple and fast administrative proceeding. Formal probate is a court hearing for large estates or more complex cases. If a will exists, the probate process still occurs, but it's generally quite easy to resolve. In contrast, formal probate typically arises when there is no will. The court has two obligations in this situation: to make sure the wishes of the deceased person are carried out and to pay all relevant taxes and debts. When all financial obligations have been met, the remaining estate is distributed among beneficiaries. Some things go through the probate process regardless of the estate plan. This includes inheritance where the beneficiary predeceases the giver, non-titled property, partner-owned investment property, and sole-ownership property. Other things are exempt from the probate process. This includes living trusts, life insurance, and retirement plans, and it also includes real estate, bank, and brokerage accounts held in joint names.