Yes, it is is true, California has enacted a transfer on death tool for California real property. The application of the tool applies narrowly and is likely not a good tool for many people. The technique is only available for a few years and will sunset if not extended by the state legislature. For those needing Medi-Cal estate recovery planning, the tool is not a good option. You should contact your estate planning counselor to determine if this technique is right for your situation.
Probate Roundup 2014.10.6
Estate of Stephen XXXX. Estate appraised at $204,659.04. Statutory attorney fees to be $7,272.25 upon approval. Statutory administrator fees (i.e., Stephen died intestate - - meaning without a will...so he has an "administrator" instead of an "executor") to be $7,272.25 upon approval. Total fees prayed for = <$14,000.00. Looks like another probate that could have been avoided by proper trust planning.
The Happiest Place on Earth...for Probate Lawyers
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Read MoreProbate Roundup...Extraordinary Fees?
....the probate examiner is questioning whether or not the attorney should receive $250.00 in extraordinary fees for obtaining a tax ID number and advising the executor to file a tax return.
Read MoreClosed Another Probate
Closed another probate in Madera County Superior Court. Heirs will be receiving checks in time for Christmas.
Read MoreMy Probate Schedule Today
"Probate is required when estate realty has to be sold, which is something to consider in deciding whether or not to have a trust."Read More