The formal probate process in California involves several steps to ensure that a deceased person’s estate is properly managed and distributed. This process occurs under the supervision of a court and typically applies when the estate is large or complex.
This complexity also applies to the probate process itself. It is much easier to understand what to expect during the probate by outlining the process in straightforward steps.
Filing a petition with the court
The first step in the formal probate process is filing a petition with the probate court. This petition asks the court to appoint someone, often called an executor, to manage the estate. The person who files the petition must notify all potential beneficiaries and heirs of the petition. This allows them to have the opportunity to contest the probate process if needed.
Inventorying the estate
Once the court appoints an executor, that person is responsible for identifying and collecting all of the deceased person’s assets. This includes real estate, bank accounts, personal property and any other valuable items. The executor must create an inventory of the estate, which details each asset’s value at the time of death. This inventory undergoes submission to the court for approval.
Paying debts and taxes
Before distributing the assets to the beneficiaries, the executor must oversee the payment of all outstanding debts and taxes. This entails notifying creditors of the probate process and settling any valid claims against the estate. California law requires the executor to pay federal and state taxes, including estate taxes if applicable. If the estate does not have enough funds to cover the debts, the executor may need to sell certain estate assets to pay them.
Distributing the remaining assets
After paying all debts and taxes, the executor distributes the remaining assets to the beneficiaries according to the terms of the will. If the deceased person did not leave a will, California’s intestate succession laws determine how the assets will divide. After asset distribution, the executor must file a final report with the court detailing all actions taken during the probate process.
The final step in the probate process is closing the case. The court will review the executor’s final report and, if everything is in order, will officially close the probate case. This concludes the formal probate process, allowing the beneficiaries to take full ownership of their inherited assets.
