Probate Referees
February 26, 2009 11:50 am ProbateThe California Probate Referees’ Association publishes a Procedures Guide designed to assist those with California probate experience as well as those without experience.
The Guide covers all basic procedures with a focus on the preparation of the Inventory and Appraisal. The Guide provides practical suggestions for preparing attachments, describing assets, obtaining appraisals and presenting necessary supporting data.
The Los Angeles Daily Journal published the California Probate Guide under the title: Using Probate Referees in Trusts, Probate, Conservatorships and Guardianships, Small Estates, and Non-probate Matters
The Guide’s Table of Contents are here:
WHY USE A PROBATE REFEREE?
THE ROLE OF THE PROBATE REFEREE
BENEFITS OF USING REFEREIS IN TRUST AND NON-PROBATE MATTERS
TRANSFER OF SMALL ESTATES AND SPOUSAL PROPERTY PETITIONS
NEW REQUIREMENT OF VALUATIONS WHENEVER ACCOUNTS ARE REQUIRED TO BE FILED
WHAT IS THE INVENTORY AND APPRAISAL
-Checklist for preparing the Inventory and Appraisal
-What does not go in the Inventory and Appraisal
-What goes on Attachment 1
-What goes on Attachment 2
LISTING PARTICULAR ASSETS
-The importance of complete information
REAL PROPERTY
-Vacant, agricultural, condominium, and single family residential
-Stock cooperatives
-Residential income producing
-Commercial/industrial property
-Life estates
-Remainder and reversionary interests
BUSINESS INTERESTS
-Closely held corporations
-Limited partnerships
-General partnerships
-Sole proprietorships
TANGIBLE PERSONAL PROPERTY
-Miscellaneous/furniture and furnishings
-Jewelry/coins/art
-Motor vehicles/mobile homes/boats
-Livestock and breeding animals
PROMISSORY NOTES
SECURITIES
-Portfolio accounts at brokerage firms
-Common and preferred stocks
-Mutual funds
-Stock options
-Corporate, state and municipal bonds
-US treasury notes and bonds
-GNMA, FNMA, and FHLMC securities
-United States savings bonds
OTHER INTERESTS
-Inheritances and distributions from trusts
-Insurance policies
-Patents, copyrights, and royalty interests
-Judgments and ongoing litigation
-Personal injury actions
-Gas and mineral rights
ADMINISTRATIVE ISSUES AND QUESTIONS COMMONLY ASKED
-How long does the appraisal take?
-How do I correct a mistake?
-When do I need a reappraisal for sale?
-What about inheritance taxes?
-Minority discounts
January 28th, 2010 at 5:47 pm
Thanks for taking the time to answer one of my questions.
My Dad Married a woman in 1979 and she died in 1993. While my Dad was on vacation, she willed the house that was in her name to her grandchild. She allowed in the will for my Dad to stay there as long as he played the taxes and kept the place up. He has done so until this year!
My question he has been paying on the house for 30 years even though it was in the deceased name, does he not own 1/2 the house even though she willed it to her granddaughter? There was no pre-nup so how can she give away what she does not fully own?
The property has not gone thru probate yet and I wonder do I have a leg to stand on getting 1/2 the house to my Dad? He does not have much money to fight it so unless we have a decent chance we cannot contest the Will. He now is lining with me in Co. while his knees are being replaced.
Please advise!
Thanks Dan Gerstmeyer
April 13th, 2010 at 5:19 pm
I am assuming the home is in California? We would need to see the Will and copy of the deed to the house before we could properly advise you. It is likely your father would have a claim for reimbursement.