Five Steps to a Speedier Probate

Posted on June 23, 2011 by Matthew Yu

Most executors are highly motivated to get through probate as quickly as possible, to be free of the added responsibility and to gain some closure on the experience of losing their loved one.

How long does probate take?  That depends. A straightforward probate with no contested assets can usually be wrapped up in six to 12 months. A complex probate could go on for years. Fortunately there are steps you can take to avoid unnecessary delays:

  1. Meet all filing deadlines. Missing deadlines can trigger additional court appearances, making it impossible to move forward until the matter is resolved. It may also prompt other family members to challenge your competency as executor.
  1. Promptly notify all creditors. Under California law, a creditor must file a claim within 60 days of notice or four months from the issuance of Letters of Administration, whichever comes first. A delay in notifying creditors will prolong the process; failure to notify them leaves the estate vulnerable to unexpected—and time-consuming–claims for as long as the probate is open.
  1. Get a complete, appraised inventory. At the same time you are notifying creditors, begin marshaling the estate’s assets and getting them appraised. You can inventory cash assets yourself.  The court will appoint a probate referee to inventory and appraise the other assets.
  1. Maintain complete and accurate accounting of every dollar spent. Barring any complications, this will enable you to file the final report and accounting with the Probate Court—and close the estate– as soon as the creditor claim period has expired.
  1. Hire a reputable probate attorney. The surest way to avoid delays is to  entrust the process to an experienced professional who understands the complexities of California probate law.  A probate attorney will “quarterback” the entire process on your behalf.  All you need to do is respond to his or her requests for specific documents. You’ll be relieved of paperwork, protected from time-consuming mistakes—and free to return to focusing on your everyday life.

Matthew Yu is an attorney of  the Law Office of Matthew C. Yu, located in Torrance, California.  His practice emphasizes probate, conservatorships and living trusts. Matthew’s clients include businesses, families and individuals throughout Southern California. He can be reached at (310) 891-0016 or by email at: myu@matthewyulaw.com.

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Is a Conservatorship Right for Your Family?

Posted on February 10, 2011 by Matthew Yu

From time to time, you may hear news stories about celebrities and other individuals who are placed under a conservatorship. Those stories may lead you to wonder, “What is a conservatorship, and why would I ever need one?”

A conservatorship is the legal right granted by the court to a person who will be responsible for the financial and/or personal decision-making for another person who is deemed incapable of performing these functions for him- or herself.

There are two types of conservatorships: Conservatorship of the Person and Conservatorship of the Estate. You can petition the court for either type, or for both. A Conservatorship of the Person involves managing that individual’s affairs, such as arranging for caregivers and denying the person’s right to vote or enter into contracts. A Conservatorship of the Estate involves a court-approved administration of the Conservatee’s assets.

Usually, when a conservatorship is sought, the Conservatee needs assistance with finances or with making personal health or living choices. The most typical example is a grandparent or disabled person. However, Conservatorships have also been used to force someone to submit to medical treatment, or to try to prevent the incapacitated person from squandering his or her wealth. In rare occasions, families of addicts have used conservatorships to force the person into rehab.

Obtaining a conservatorship is a complex and often costly process that requires the assistance of an attorney at every phase. Once granted, a conservatorship is difficult to terminate. The court exercises strict oversight over the Conservator’s decision-making and requires detailed reporting and accounting at regular intervals.

Other options—such as a power of attorney or placing assets in trust—can be equally effective and less costly methods of protecting your loved one’s estate. A Well Spouse Petition can be used to transfer assets of an incapacitated person to the other spouse. And medical providers can initiate short-term conservatorships over the care of an individual. These are just a few of the alternatives to conservatorship.

If someone you love is incapacitated, an attorney can help you evaluate the best course of action for your particular situation. If you decide to seek a conservatorship, your attorney will prepare the petition to the court and marshal the information necessary to persuade the judge that the individual lacks capacity to manage his or her own affairs.

Protecting the well being and assets of an incapacitated loved one can be a difficult and heart-rending decision. An experienced attorney can ease the way, and serve as a calm and objective ally in navigating a complex legal process.

Matthew Yu is a solo practitioner attorney at the Law Office of Matthew C. Yu. His practice emphasizes probate, conservatorships and living trusts.

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