Administering an estate can be a complex process. It requires an in-depth understanding of probate and tax laws. The estate must be inventoried, assets appraised, beneficiaries need to be notified, and debts need to be paid. Income taxes must be filed and paid, and assets must be distributed in a timely manner. Assets that were properly included in an Estate Plan and protected by a Living Trust can be distributed more quickly and at a lower cost than through probate court. Assets not included in a Living Trust are generally subject to probate court administration.
Assets that were properly included in an Estate Plan and protected by a Living Trust can be distributed more quickly and at a lower cost than through probate court.
If you have been named executor or trustee of any estate, it is essential to have an experienced Estate Planning Attorney assisting you. These appointments come with an extensive list of duties and responsibilities, and there is some exposure to personal liability if the law is not followed.
When the terms of a Will or Trust involve a transfer of real estate from parents to children or grandparents to grandchildren, special property tax exemptions are available and should be claimed within a timely manner. Failure to do so will result in a higher tax burden on the beneficiaries, and you could be held liable.
Bezaire, Ledwitz & Associates has an exceptional level of experience in Estate Administration. We ensure that the trustee or executor of an estate fulfills the deceased’s wishes while remaining in compliance with California law. Our attorneys have supervised the Estate Administration of hundreds of complex, high net worth estates.
Zoom Meeting Information
Samuel B. Ledwitz has been practicing Estate Planning Law for two decades.
He would like to introduce you to the basics of Estate Planning during an informational free upcoming Zoom session.
New sessions have been scheduled. See below for new dates: updates:
Session 1 June 29, 10:00AM
Session 2 June 30, 2:00PM
During this session you can learn:
What is a proper Estate Plan
Why it is so important to have a proper Estate Plan
The do’s and don’ts of Estate Planning
Many other aspects of Estate Planning that could affect you