Changes To California Probate Law - 2012

It seems like for every new year, there are going to be more new laws. And let's face it, hardly any of us are ever thrilled about that. However, this year there are some changes to the California probate law which might actually excite you. Not possible you say? But what if I told you this new law could help keep your heirs out of probate court? Now you're listening.

Gov. Jerry Brown has signed into law AB 1305, which will increase the estate value threshold of formal probate proceedings from $100,000 to $150,000. And also the amount for real property from $20,000 to $50,000. This is an especially good change for people without significant estate assets. People with smaller estates may now be able to avoid substantial delays and expenses associated with probating an estate through the court.

However, you should not let these changes dissuade you from a properly drawn up estate plan. Other seemingly non-financial aspects like powers of attorney in case of incapacity are a necessary part of estate litigation no matter how small your estate assets may be.

You may not even be aware of the value of your estate until you consult with aprofessional estate litigation attorney and get an accurate accounting of your assets. It could be possible you have more than you think.

*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.

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