Spousal Property Petition California

All of the decedent's separate property, generally assets in the deceased person's name alone acquired outside of marriage or inherited during marriage; One-half of the decedent's community property (generally, property acquired during marriage);

Most of the deceased person's property has to go through probate. However, there are several instances where property and assets would avoid the process.If a deceased person held an asset in joint tenancy, whether it was a financial asset or real estate, then that asset does not go through probate.

In California, you can make a living trust to avoid probate for virtually any asset you ownreal estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

In California, if your assets are valued at $150,000 or more and they are not directed to beneficiaries through either a trust plan, beneficiary designation, or a surviving spouse, those assets are required to go through the probate process upon your incapacity or death.

A Heggstad petition, named after a California probate case concerning the Heggstad estate, transfers property into a trust after the person passes away. According to California state law, you may be able to file such a petition if the decedent intended to transfer the property, but failed to do so before death.

You can generally expect the Heggstad Petition process to be complete within 60 days, from the preparation and filing of the petition to the final decision by the judge. This process is much faster compared to a full probate, which can take years to complete and cost thousands of dollars.

These assets might include health savings or medical savings accounts, life estates in property, life insurance policies, retirement accounts including IRAs and 401(k)s, and annuities.

Intestate succession refers to the process under California inheritance laws that details what happens to a person's estate assets when that person dies without a last will and testament. California's inheritance laws are straightforward and dictate how a loved one's estate assets will be distributed after they pass

One of two orders are requested: That property transfer from the deceased spouse to the surviving spouse; and/or Confirmation that property is already the community property of the surviving spouse. A spousal property petition is an election. That is, the surviving spouse can file a full probate if they desire.