Table of Contents

1. An Overview

• What Is Probate?
• What Is Involved in Settling an Estate?
• How Long Does It Take to Settle an Estate?
• What This Book Covers
• Simple Estate Checklist
• Important Terms in Probate
• Insolvent Estates
• Estate Taxes
• Do You Need an Attorney?

2. First Steps in Settling an Estate

• Who Should Act as the Estate Representative?
• Responsibilities of the Estate Representative
• Specific Duties of the Estate Representative

3. Who Are the Heirs and Beneficiaries?

• Where to Start
• How to Read a Will
• Compare Schedule of Assets With Property Left in Will
• Who Inherits When the Will Is Ineffective?
• If There Is No Will
• The Concept of Right of Representation

4. What Is the Decedent’s Estate?

• Real Property
• Personal Property
• What Establishes Ownership of Property?
• How Was the Decedent’s Property Owned?
• How to Determine Whether Property Is Community or Separate
• Actions That Change the Character of Property
• Property That Is a Mixture of Community and Separate Property
• Examples of Property Ownership
• Property Acquired by Couples Before They Moved to California

5. Preparing a Schedule of the Assets and Debts

• Describe Each Asset
• Value Each Asset (Column A)
• How to Determine Ownership of Property (Columns B & C)
• List the Value of the Decedent’s Interest (Column D)
• Determine Whether Property Is Probate or Nonprobate Asset (Column E)
• List All Debts
• Checklist of Property to List on Schedule of Assets
• Schedule of Assets for a Sample Estate

6. How to Identify the Best Transfer Procedure

• Nonprobate Assets
• Assets That May Be Subject to Formal Probate
• Examples of How Assets Are Transferred in Typical Estates
• Sample Estates

7. What About Taxes?

• Decedent’s Final Income Tax Returns
• Fiduciary Income Tax Returns
• Other Income Tax Returns
• Stepped-Up Tax Basis Rules for Inherited Property
• Federal Estate Tax Return
• California Estate Tax Return
• California Inheritance Tax
• Tax Issues for Some Typical Estates

8. Transferring Title to Real Property

• Ways to Transfer Real Estate After Death
• Basic Information on Recording Documents
• Change in Ownership Statements
• How to Record Your Document Transferring Title
• Mortgages

9. How to Transfer Securities

• Documents Required to Transfer Securities
• The Stock or Bond Power
• The Affidavit of Domicile
• The Transmittal Letter
• How to Sell Securities
• The Stock Transfer Tax

10. Joint Tenancy Property

• Where to Start
• How to Clear Title to Real Property in Joint Tenancy
• How to Clear Title to Securities Held in Joint Tenancy
• How to Clear Title to Motor Vehicles and Small Boats Held in Joint Tenancy
• How to Clear Title to Joint Tenancy Bank Accounts (and Totten Trust Accounts)
• How to Clear Title to Money Market Funds and Mutual Funds
• How to Clear Title to U.S. Savings Bonds in Co-Ownership

11. Transferring Small Estates Under $100,000

• Overview of the Simplified Transfer Procedure for Small Estates
• How to Determine Whether You Can Use Summary Procedures
• How to Transfer the Property

12. How to Transfer Trust Property and Property Subject to Life Estates

• Notifying Heirs and Beneficiaries
• Trust Property
• Handling Debts and Expenses
• How to Transfer Property Held in Living Trusts
• Life Tenancy (Life Estate)

13. An Overview of the Probate Court Process

• Do You Really Need a Probate Court Proceeding?
• Probate Checklist
• Dealing With the Probate Court
• Beginning the Probate Process
• Taking Care of the Estate During Probate
• Closing the Estate

14. Conducting a Simple Probate Court Proceeding

• Step 1: Prepare the Petition for Probate
• Step 2: Prepare the Certificate of Assignment
• Step 3: Prepare the Notice of Petition to Administer Estate
• Step 4: File Your Petition for Probate
• Step 5: Complete the Proof of Subscribing Witness Form
• Step 6: Complete a Proof of Holographic Instrument
• Step 7: Notify Government Agencies
• Step 8: Prepare Your Order for Probate
• Step 9: Study and Respond to the Calendar Notes
• Step 10: Prepare the Letters
• Step 11: Prepare the Duties and Liabilities of Personal Representative Form
• Step 12: Prepare the Application Appointing Probate Referee
• Step 13: Prepare Notice of Proposed Action, If Necessary
• Step 14: Prepare the Inventory and Appraisal Form
• Step 15: Notify Creditors and Deal With Creditors’ Claims and Other Debts
• Step 16: Prepare the Petition for Final Distribution
• Step 17: Prepare Notice of Hearing (Probate)
• Step 18: Prepare Order of Final Distribution
• Step 19: Transfer the Assets and Obtain Court Receipts
• Step 20: Request Discharge From Your Duties

15. Handling Property That Passes Outright to the Surviving Spouse or Domestic Partner

• An Overview of These Simplified Procedures
• Collecting Compensation Owed the Decedent
• Affidavit for Transferring Community Real Property
• Survivorship Community Property
• The Spousal or Domestic Partner Property Petition

16. If You Need Expert Help

• What Kind of Expert Do You Need?
• Using a Legal Document Assistant
• Using a Lawyer