Often, a person who is engaging in estate planning will name a loved one as the executor. Most of us would not think twice about being named as executor, yet the process of probate can be considerably more complex than you might think. Settling an estate can involve tracking down and appraising assets, paying bills and creditors, filing final tax returns, distributing whatever is left to heirs, and much, much more. The process of probate can be time-consuming, place you in the middle of chaotic family dynamics, and even expose you to lawsuits. Even when there are no unusual conflicts, probate is an enormous job.
According to NerdWallet, a small estate with few debts might take 6-12 months to probate, while a complex estate with contentious heirs, a significant number of creditors, or assets that are difficult to value can take years to probate. The “typical” estate across the nation takes about 16 months to settle and requires a whipping 570 hours of work on the part of the executor or probate attorney. To be clear, the executor himself or herself may not put in that many hours but may hire other professionals to assist with the probate, including a probate attorney, an appraiser, a CPA, an investment individual, and others.
In estates with many assets, a significant number of those hours could be spent finding documents, inventorying assets and debts, arranging appraisals, managing properties, communicating with banking institutions and governmental agencies, and record-keeping tasks. As you can see, probate can be complicated, frustrating, and time-consuming. Having a professional probate attorney serving Kenwood from the Gullotta Law Group can make a significant difference in the process and the outcome.
Having a Comprehensive Estate Plan Can Make the Probate Process Unnecessary or Easier
Do you have a plan for when the unavoidable happens? When you pass on, do you have a way of ensuring everything you worked for is used to secure your family’s future? Without an estate plan—preferably one from a professional Kenwood estate planning attorney—your assets will be distributed by state bureaucracy and your family may have to enter a long and expensive legal process. If this does happen, you will need an experienced probate attorney serving Kenwood on your side.
Eric Gullotta is a respected probate attorney serving Kenwood that helps the people of Sonoma County secure their family’s future long after they have passed on. His cordial and professional demeanor as well as client-focused pricing helps take the stress out of one of life’s most trying times. Call Eric today at (707) 938-7234 for a FREE evaluation, and start making a plan that puts your loved ones first, not the state.
How Probate Attorney Serving Kenwood, Eric Gullotta, Can Take the Stress out of Estate Planning
Any process that involves the thought of passing on is stressful at the very least. The complex process of planning an entire estate can only make things more daunting. The Gullotta Law Group believes that the best plans are created in a positive atmosphere. That’s why we pay extra attention to each client and truly care about helping solve their real-world problems. We know how stressful the process can be, and we strive to create a professional yet light hearted atmosphere where you’re more likely to laugh than anything else.
Eric’s unique approach starts with hearing your exact wishes. Instead of telling you what to do, he listens to you and guides you through the process of creating your own document. Each plan is customized to your exact wishes for your family. Our goal is to give you straightforward advice in a timely manner so you don’t waste time worrying.
Eric Gullotta and his legal team go to great lengths to remove the burden from your shoulders and make estate planning simple and comfortable. Unlike many estate planning law firms, we offer fixed fees for estate planning. This allows you the time to ask questions without worrying about hourly fees. At the Gullotta Law Group, we simply believe we can best meet the needs of our clients when they don’t feel as though they must constantly watch the clock.
We never want our clients to feel rushed, so we offer unlimited initial planning time with attorney Gullotta. You also receive unlimited emails, phone calls, and additional face-to-face time with Eric, along with a follow-up meeting after you have signed your estate planning documents. We also offer support for your loved ones after you have passed in the form of a free one-hour consultation for your successor trustee and/or executor to ensure they are on the right track in administering your estate.
Overview of Probate Areas Handled by the Gullotta Law Group
In addition to planning for probate in the best way possible when preparing your estate plan, the Gullotta Law Group can help with other probate areas. We can act as probate administrators, handling all the issues related to probate so loved ones have the time to grieve. We can also guide a named executor through the probate process, helping them accomplish all the necessary tasks in the most efficient manner. Eric has extensive knowledge, experience, and skill in every aspect of probate and estate planning, meaning you will never go wrong by choosing the Gullotta Law Group.
Why Many People Try to Avoid Probate
People may try to avoid probate for a number of reasons. Probate can be expensive, as well as time-consuming, so if it can be avoided, heirs to the estate can receive their inheritances much more quickly. Probate is also a public process. For those who don’t really want any interested party to be able to access all the details of the estate, avoiding probate is the way to go. The ways to avoid probate range from using trusts rather than a will, to ensuring all assets are jointly titled and all bank accounts are designated as payable on death. In the state of California, estates that are worth less than $184,500 may not have to go through the probate process.
FAQ
Isn’t an Estate Plan Just a Will?
No, an estate plan is far more than a will. It is a series of arrangements that plans for when you have either passed on or are incapable of making a decision. It involves everything from health care decisions and asset management to tax minimization and estate administration when you are deceased. That’s why a professional probate lawyer in Kenwood is highly recommended.
Aren’t Estate Plans Only for the Wealthy?
No. Regardless of your wealth or assets, an estate plan is an extremely valuable tool. Not only does it provide guidance in accordance to your best wishes, it saves your family months or even years of struggle with the bureaucratic system.
What Sets Your Firm Apart From Others?
The difference is that we truly care. Our unique approach is counter to that of other offices. We take a lighthearted yet professional approach to one of life’s most stressful processes. We focus on your and your family’s best interests and translate your wishes into documents. At the Gullotta Law Group, you are listened to, not just heard. Not only do we offer a free evaluation and 30-minute consultation, we offer a free one-hour consultation to your family after you have passed on to help manage the estate.
How Long Do You Have to File Probate After a Death?
Under the California Probate Code, a named executor has 30 days after the death—and after learning they are the nominated executor—to petition the probate court and start the process. If you fail to meet this date, your appointment as executor could be overturned by the court. Once the probate process is initiated, the executor has one year to complete the process, although this deadline can be extended for specific reasons. The executor can file a federal estate tax, which affords them an extra 18 months. In the event the estate is particularly complex, or there is litigation to deal with, the court will provide more time for the probate to be completed.
What Is Ancillary Probate?
Ancillary probate is a special type of probate that is used in addition to primary probate. Ancillary probate is generally triggered when the decedent owns property in other states. While we generally think of real estate in connection with ancillary probate, it can potentially apply to property like boats, airplanes, or vehicles that are owned outside of California. Ancillary probate can even apply to mineral, oil, gas, or livestock rights attached to real estate owned outside California.
Once the executor becomes aware that the decedent had assets outside the state of California, ancillary probate must be filed in each state where those assets are located. Ancillary probate makes the probate process much more complicated. It can be especially beneficial to consult an experienced probate attorney serving Kenwood from the Gullotta Law Group when ancillary probate must be dealt with.
Is Probate Expensive?
The cost of probate can vary significantly from state to state. In the state of California, probate costs are statutory, and are based on the gross value of the estate as follows:
- 4 percent on the first $100,000
- 3 percent on the next $100,000
- 2 percent on the next $800,000
- 1 percent on the next $9,000,000
- 0.5 percent on the next $15,000,000
- For amounts over $25 million, the court will determine “reasonable” compensation
Debts are not factored into the estate value, rather the value is based on the gross value of probate-eligible assets.
How a Probate Attorney Serving Kenwood From the Gullotta Law Group Can Help
Perhaps you have been designated as the executor of a loved one’s estate. You may not have thought too much about accepting this designation when the decedent asked you about it, but now it seems much more complex. Should you find yourself in such a situation, it can be extremely beneficial to speak to attorney Eric Gullotta. Eric and his highly skilled legal team are ready to help you through this difficult time in the best way possible.
Contact Eric Gullotta today at (707) 938-7234 to speak with a probate attorney serving Kenwood that creates a plan with your interests in mind. You are certain to have serious questions that need answering. During your FREE case evaluation, Eric will give you peace of mind knowing that your estate will be taken care of long after you have passed on.
