When an individual passes away in California, it is important that their loved ones handle all matters related to the estate. Generally, if the person who passed created a will, they have already named an executor that they trust to act as the personal representative of the estate and handle the probate process. Probate is a relatively complex process so many people turn to an estate administration attorney that can assist them.
In order to close an estate, the executor must make sure the probate process is concluded. All of the taxes must also be paid, the previous year’s tax return must be filed, all other debts must be paid off, and all assets must be appraised and distributed to beneficiaries that were listed in the will. Then, the executor will have to account for all money transactions made during probate. It is important to note that assets can only be distributed to beneficiaries after the judge issues an order for the Final Distribution of all assets.
Once all of these duties are finally completed, the executor will request the court to discharge them of their responsibility to the estate. If you have questions about the probate process or how to close an estate in California, contact us today.
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.