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Estate Administration Archives

How estates are administered in California probate court

When a person dies in California, his or her estate may be subjected to administration by the probate court. Any assets that were given away prior to the decedent's passing will not be subjected to probate. Property and assets that were included in a living trust also are not administered by the courts.

Michael Jackson's mother to be responsible for trial costs

Michael Jackson’s estate could be liable for paying more than $500,000 in legal fees if a Los Angeles County Superior Court judge rules in favor of concert promoter AEG. The promoting giant was sued by Jackson’s mother for wrongful death stemming from his demise from a fatal dose of propofol  by former cardiologist Conrad Murray in preparation for a stint of concerts in London, dubbed the “This Is It” tour.

Could inherited retirement accounts be lost in bankruptcy?

The U.S. Supreme Court’s decision in a bankruptcy case may have long-term implications on estate planning strategies. Essentially, the question before the court is whether a debtor who has sought bankruptcy protection and then inherits a loved one’s retirement account is compelled to turn over the proceeds from such an account to creditors.

Mick Jagger inherits L'Wren Scott's estate

Famed fashion designer L’Wren Scott reportedly has left her entire estate to her longtime boyfriend, Mick Jagger. Scott was found dead in her Manhattan apartment on March 17, and her death has been ruled a suicide. Her death was a traumatic surprise to those in the fashion industry.

Actor's estate planning mistakes may overtax loved ones

California community property laws influence how estate assets are divided. A Los Angeles spouse cannot be disinherited involuntarily, and children or other relatives are not automatic heirs. According to California Probate Code Section 6400-6414, a will cannot prevent a surviving spouse from claiming half an estate, but the protection does not cover an unmarried partner.

Managing the initial steps of a California estate settlement

The loss of a loved one is a highly-stressful event. Someone, often a close family member, also may be responsible for the settlement of the decedent's estate. An attorney's input is useful, since some legal issues require attention even as survivors struggle to manage their grief.

California estate asset values are in the eye of the beholder

A Los Angeles forensic accountant can be hired to place a fair market price on the estate assets you have, but only you and your loved ones know the worth of sentimental objects. Some of the worst squabbles in probate occur over property that has little or no value outside of a family.

Beneficiary reviews prevent California estate surprises

Drafting an estate plan can be as much about what you do want as it is about what you don't want. Maybe it has taken you several years to get to the point of meeting with an estate administration and planning adviser. Many Los Angeles residents want the distribution of assets issues finalized so they can get back to living instead of talking about dying.

Who pays a California decedent's bills?

Dying debt free in Los Angeles may be a goal, but it's often not a reality. In many states, leftover debt following a person's death is an estate's problem, not a direct concern for heirs. In California, community property laws sometimes force surviving spouses to pay a deceased spouse's bills.

Tupac case: Lesson for California intellectual property planning

Los Angeles residents may overlook the valuable, invisible assets they own known as intellectual property. For estate administration purposes, website domains and blogs, images, art or music you share through social media sites are assets that belong to you and, if you so designate, your heirs.

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