California Probate – Using Referees

The California Probate Referees’ Association published its latest edition of the Probate Referees’ Procedures Guide. The Guide is 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
Speak with an experienced California probate lawyer who can represent you in any court in California, most readily in Los Angeles County, Santa Barbara County, Ventura County and Orange County. Call Mitchell A. Port at (310) 559-5259 to discuss your probate matter.