Estate matters are handled by the probate court. This court is charged with the responsibility of supervising the administration of an estate when certain circumstances exist.
Probate laws vary state-by-state, and back in the 1960s, the powers that be decided that there should be a code that could be followed in all 50 states.
Sometimes the probate process can be complicated. The American Bar Association partnered with the National Conference of Commissioners on Uniform State Laws (NCCUSL) to streamline the process through the creation of a uniform set of laws that would be adopted across the country.
They began drafting the document that would become the Uniform Probate Code in 1964, and the final version of the document was completed in 1969.
For better or for worse, the ultimate goal was never realized. The Uniform Probate Code was never adopted in every state. In fact, only 16 states have adopted the entirety of the Uniform Probate Code to date. However, most states are using some portion of the code.
Our offices are in California, and the UPC has never been adopted in our state.
Probate Avoidance
The probate process is in place to provide oversight, but it can slow things down considerably. If you were to use a last will as a vehicle of asset transfer, the distribution of your personal property (if it exceeds $150,000 in value) would be delayed by the probate process. Your loved ones would be forced to wait it out, and it can take close to a year, even if the case is simple and straightforward.
You can be proactive about the implementation probate avoidance techniques. Revocable living trusts can be quite useful for people who want to avoid probate, and you don’t lose control of the assets while you are living when you create this type of trust.
This is one possibility, but there are a number of different ways that you can facilitate asset transfers outside of probate.
Learn More About Probate
We would like to invite you to download our special report that takes an in-depth look at the probate process. This report is being offered to our readers on a complimentary basis, and you can obtain access to your copy through the Reports page of this website.
Estate Planning Consultation
When you plan your estate, you are taking action for the benefit of your loved ones. Your estate plan should be custom crafted to suit the needs of your family, and each family is unique.
Our firm provides estate planning services, and we would be glad to gain an understanding of your objectives and help you create the plan that is ideal for you and your family.
To request a consultation, call or email our office and request an appointment.
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