Probate for Executors
Probate Process for Executors
At Legacy APC, we represent Executors, who are designated in a decedent’s Will and responsible for initiating Probate, managing assets, and supervising asset transfers. The Will of the deceased should appoint a dependable executor who is willing to take on the tremendous responsibility of ensuring that the decedent’s property is cared for and swiftly transferred to heirs and beneficiaries.
Our attorneys also represent families whose loved ones passed away without a Will, open Probate cases, and work with the court to have a court-appointed Personal Representative assigned.
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What Are the Steps & Responsibilities of a Probate Executor?
In California, the Probate process begins with the filing of a petition for Probate with the Superior Court. The petition must be filed by the Executor of the deceased person’s Will or by an individual who has standing, usually a family member, if there is no Will.
The court can choose to appoint the Executor named in the Will or to appoint a Personal Representative to oversee the Probate process. The Executor or Personal Representative will be responsible for collecting the deceased person’s assets, paying their debts, and distributing their assets to their heirs or beneficiaries.
Here is a summary of the steps involved.
Step 1: File the Probate Petition
If the deceased owned real estate in another state, an ancillary probate in that state must also be initiated.
Step 2: Publish the Notice of the Probate Hearing
All legal heirs and potential creditors must be notified of the hearing.
Step 3: Hold the First Probate Hearing
The first probate hearing usually takes place within approximately 40 to 65 days and is when the court appoints the Executor or Personal Representative.
Step 4: Post Bond
Before the court officially grants the Executor the legal authority of their title, they may need to post bond to ensure they execute their duties responsibly and thoroughly and have financial coverage if they do not.
Step 5: Authenticate the Will
During the authentication process, the court determines whether the deceased's Will was legally executed and if the decedent was of sound mind when it was drawn up. In many cases, this is just a simple formality as many documents drafted by attorneys are "self-proving."
Step 6: Identify and Value Estate Assets
The Executor must collect all the assets of the deceased and determine Probate assets (including those that are pay-on-death or transfer-on-death). An inventory and appraisal form must be submitted to the court. The process of transferring titles of assets must also be initiated for any tangible and non-tangible assets.
Step 7: Pay Creditors
If the deceased had outstanding debts, creditors must be given the opportunity to make claims on the estate. The claims may include funeral expenses and outstanding bills.
Step 8: Sell Real Property
The sale of real estate may be needed to liquidate the estate and have the money necessary to pay creditors. Sometimes, heirs may also choose not to sell.
Step 9: Pay Estate Taxes
All federal and California estate taxes must be paid before the final distribution of assets to the beneficiaries of the estate. The executor is liable for any mismanagement of assets that leads to insufficient funds to pay these taxes.
Step 10: Close the Estate
A final accounting must be presented to the court and approved by the judge to officially close the estate. Once this is done, the Executor distributes assets to beneficiaries according to the wishes of the deceased.
The Personal Representative or Executor has a Serious Responsibility
If you assume the role of Personal Representative, be aware that any failure to do your duty could have dire consequences.
You may have to pay damages out of your own pocket for any issues that arise, even if they were simple errors. For example, you may be held liable for:
Property mismanagement or overpayments to creditors
Distributing assets before creditors and taxes had been paid
Selling or disposing of assets without authorization or at an incorrect price
Failing to file the final tax return on time
Distributing assets to inappropriate people
A failure to collect debts owed to the estate
Hire a California Probate Attorney at Legacy APC
The complexities of the Probate process make it essential that you have a good understanding of the law. Legacy APC is here to offer support and guidance, no matter the size of the estate.
At Legacy APC, our attorneys can manage the entire process for you, including handling all the formalities and representing you in court. Our lawyers have extensive experience in harmoniously resolving complicated inheritance scenarios and assisting Executors working through the Probate process.
To speak with an attorney, request your free 15-minute probate consultation now.
