Probate In California 5th Edition
Description
$9.99The fifth edition of Probate in California is now on sale. Although it has been replaced by the new PDF e-book, it still contains valuable material. The new price is $9.99 plus tax and shipping.
Overview of the Book
The book, which is 296 pages, 81/2x11, is divided into separate chapters covering the following:- Why probate?
- Immediate considerations
- Transferring Assets
- Court Procedures (expanded in this edition)
- Starting Probate
- Initial responsibility after appointment
- Payment of debts
- Investment of estate funds
- Sale or lease of estate assets
- Independent administration of estates act
- Taxes
- Protecting the family
- Special situations
- Concluding the estate
- Final matters
- Glossary
- Time line for probate
- Summary of California laws of intestate succession
- California statutory fee schedule
- United States federal estate tax rates
- Accounting records for an estate
- Judicial Council forms
- Tax forms and publications
- Internet web sites
The various legal and judicial council forms used in the California court systems regarding probate are reproduced and explained in the book. In addition, a completed set of forms and documents, following a fictitious estate, "the estate of Margaret L. Nelson," shows the reader what documents are filed with the court and how these documents look and should be prepared.
The book explains in detail the methods of avoiding probate, such as holding assets in joint tenancy, in P.O.D. and T.O.D. accounts, and in a living trust. It also discusses assets subject to beneficiary designation. In addition, it deals with the procedure for changing title to assets in the shortest and simplest way.
Immediate considerations at death, such as handling safe deposit boxes, obtaining a death certificate, making funeral arrangements, handling social security payments after death, changing title to automobiles, obtaining income tax refunds, and taking care of all of the myriad of details which must be undertaken when someone dies are explained and recommendations are given as to how these are handled.
When someone dies there are concerns with regard to the federal and California income tax returns for the year of death, the United States estate tax return if the decedent owned sufficient assets to generate such a return and tax (with a current rate of 45%), income tax returns for income received after the date of death, and other tax matters. In addition, there are income tax considerations after death for certain assets such as IRA accounts, pension and profit sharing plans, single premium deferred annuities, United States savings bonds, as well as other assets.
Although the book is not a do-it-yourself book, it is designed as a guide to clearly explain to the lay person what assets do and do not have to go through the probate process at death. It also details the procedure, starting at the beginning of probate, and shows the various sample documents which must be filed with the court to complete this process.
The book is useful to anyone who is an executor or administrator, who will be an executor or administrator, or who wishes to try to understand this rather complicated legal procedure as it is handled in the State of California.