The beneficiaries of a Will that has been probated and is being administered in a estate proceeding have the right to contest an accounting of the Executor of the Will and Estate.
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In California, probate settles a deceased person's estate and is required in California if the estate is worth more than $184,500. It typically occurs when the deceased person died without a will, but it can occur even if the deceased person did have a will if they owned real property that is subject to probate.
Some assets will need to go through a legal probate process to determine who will inherit them, while a non-probate asset with a named beneficiary can be transferred directly to its new owner. The executor (or administrator) of your loved one's estate is responsible for the distribution of probate assets.
The Personal Representative is required to file a petition for final distribution or a verified report on the status of the estate within one year after Letters are issued (or 18 months if a federal estate tax return is required).
With the distribution of all assets, the executor is said to have ?closed the estate.? But, the executor still retains the power to gather newly discovered assets and address future complaints.
A final account and petition for distribution can be filed by the Personal Representative when there are sufficient funds available to pay all debts and taxes, the time for filing creditors' claims has expired, and the estate is in a condition to be closed.
The court transfers ownership of assets to beneficiaries or heirs during the final distribution of estate assets in probate. Upon dissolution of the estate, the final distribution will occur. This means all creditors and taxes will have been paid, and a judge will have rendered the final decision.
Upon the entry of an order for final distribution, the personal representative can distribute the remaining estate property to the beneficiaries. California Probate Code §11641. The personal representative is required to obtain receipts from the distributees of the property. California Probate Code § 11751.
In California, state law gives executors or administrators of estates a time limit to complete probate: one year from the date they are appointed to their position. However, extensions can be requested when delays in the process occur?which is why it generally takes 12 to 18 months.
