10 PROBATE FACTS





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




   
   

The Law Offices of Russ Rasmussen
5252 Balboa, Suite 704 · San Diego, CA  92117
858.569.0206 · Fax 858.569.0209
russ@russrasmussen.com