Avoiding Probate in Oakland, CA
Alameda County Estate Planning Lawyer
The main reasons people want avoid probate is because it can be expensive
and extremely time consuming. Most probate cases last anywhere between
six months and a year. Fortunately, there are several ways individuals
can avoid this frustrating process. As an Alameda County estate planning
attorney, I am here to help you avoid probate matters. I am committed
to providing you with the highest level of legal support, ensuring you
stay informed of your options every step of the way. If you are concerned
about going through the probate process, I am here to make sure you don't
have to waste your time or money in court.
Using Summary Administration
If the value of your estate is less than $100,000, you may be able to use
summary administration. This allows for the collection or transfer of
a small estate without going through probate due to the small value. Instead
of going to probate court, the beneficiary can collect the property by
executing an affidavit. This may be used to collect any kind of personal
property and evidence of debts. The affidavit must be signed by all persons
who have an interest in the property and a certified copy of the death
certificate must be attached. The will must still be submitted to the
probate court to ensure the executor is acting in an official legal role.
You may be wondering how to tell if the value of an estate is worth less
than $100,000. It is important to understand that not all of the deceased's
actual property is included when determining the overall value. If you
want to avoid probate, you can use certain methods to decrease the value
of an estate. This process can be risky and should only be pursued with
the approval and help of an experienced legal professional.
Some common methods for reducing an estate's value include the following:
Gifts: Though it can be suspicious if you give large gifts away immediately before
death, you can still give up to $10,000 in assets without incurring federal
Joint Tenancy: Any items owned in joint tenancy will not be included in value of estate.
Many items can be held in joint tenancy, such as bank accounts, stocks,
bonds, cars, and real estate.
Pay on Death Accounts: This account will be transferred directly to a specified individual in
the case of the first holder's passing. The value in this account
will not be included in your estate.
Life Insurance: If there is a beneficiary assigned to the value of your life insurance,
it will not be included in the value of your estate.
: When you have a fairly large estate, a trust can help you avoid taxes
If you would like more information on how to avoid probate, please
contact my practice
at (415) 275-3283.