Estate Administration

When someone dies, it is necessary to “administer” the estate. The representative must pay the decedent’s creditors, collect all sums owed to the decedent, value the assets and liabilities, identify the beneficiaries, pay the income and/or estate taxes and distribute the remaining estate to the beneficiaries. This can be a daunting task – particularly if the decedent didn’t plan properly. We assist the Trustee / Executor with his or her duties to ensure the work is performed in accordance with applicable state and federal laws and to minimize taxes to be paid.

Trust

If the decedent had a valid Revocable Living Trust, the estate can be administered without court supervision. The Trustee must still administer the estate but has the guidance of the Trust to help him or her with the task. Fees are typically determined by the provisions in the Trust.

Probate

If the decedent did not have a valid Revocable Living Trust, the estate is administered through a process called probate. Probate is a court supervised process and may take up to several years to complete. Fees are determined by state law for both the attorney and the Executor based on the gross value of the estate.

Disclaimer
We gladly provide the materials on this web page for informational purposes only. The information provided is a summary of important California related information, does not represent a complete discussion of the topics covered, does not relate to any particular person, entity, situation or occurrence, and does not constitute the formation of an attorney-client or other professional relationship.

The information provided does not constitute advertising, a solicitation, or legal advice. If you need assistance with a legal issue, you should seek advice from a licensed attorney in your state of jurisdiction. Kramer Radin, LLP expressly disclaims all liability relating to actions taken or not taken based on any or all materials on this web page.