| 1. |
It is the form and the value of Decedent's estate which determines if Probate proceedings are required. |
| 2. |
A Will does not avoid Probate; a Will simply controls Probate proceedings. |
| 3. |
The lack of a Will does not cause Decedent's estate to pass to the State of California but rather to
Decedent's heirs by succession. |
| 4. |
A Decedent who has a Will dies "Testate" and his estate goes to beneficiaries. A Decedent
who has no Will dies "Intestate" and his estate goes to heirs. |
| 5. |
A Living Trust can avoid Probate. |
| 6. |
Probate fees and costs total less than 4% of the estate value, not 40% - 50% of the estate value. |
| 7. |
Probate proceedings do not trigger "Probate Taxes". Death Taxes accrue depending on the value
of Decedent's estate, not the form of Decedent's estate. |
| 8. |
"Inheritance Taxes" no longer exist. |
| 9. |
The main functions of Probate (or alternative) proceedings are:
- Collect Decedent's assets (the estate).
- Pay Decedent's debts (and Taxes).
- Distribute Decedent's estate (to beneficiaries and heirs).
|
| 10. |
Other important "Death Documents" include:
- Directive to Physicians (Living Will)
- Power of Attorney Health Care Purposes
- Durable Power of Attorney
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