Most people have heard of the nightmare that is California’s probate court, and in an attempt to make sure that their estate does not have to pass through the probate process decide instead to gift their assets to their children prior to death, either outright or in joint tenancy. No estate, no probate- simple as […]
Category: Probate
Small Estate Redefined-Probate Required for Estates Greater Than $150,000 in California
A fairly noteworthy change was brought to the estate planning landscape this year- the “small estate,” which since January 1, 1997, has been defined as an estate of $100,000 or less, has been redefined as an estate of $150,000 or less. Effective on January 1, 2012, Bill AB 1305, introduced by Assemblywoman Huber, amended certain provisions […]