2024 How Long Does It Take to Settle an Estate in California?

If you’ve had a close family member or friend who has recently passed away, you may have questions regarding the estate process in California. A question you may have is, “How long does it take to settle an estate in California?” An experienced estate planning lawyer can help you navigate this process and answer any questions you may have. Estate planning is often an overlooked part of one’s finances, but it is important nonetheless.

Is Probate Necessary?

If someone dies without a will and leave behind assets, probate may be required. Assets could include money, real estate, or any personal property. If there are any disputes or disagreements regarding the distribution of assets, it must be settled during the probate process before the estate can be settled. The fastest way to settle an estate is to engage an estate planning attorney who has ample experience dealing with California estates.

Factors to Consider

The probate process can take varying times to settle. There are several different factors that can affect the timeline. Some of the most important factors to consider are:

• Complexity. Estates can vary in complexity, and this directly affects the timeline of settling. Estates with substantial business holdings or several beneficiaries can have complicated structures. This can cause an increased workload and requires time to sort out.
• Size of the estate. The larger and more valuable estates will naturally take longer to settle than smaller estates. Each asset has to be identified and valued. More assets means more time needed to take inventory and distribute.
• Types of assets. The types of assets will have a large effect on the time needed to settle the estate. Each asset must be valued. This can be challenging for assets such as artwork, collectibles, or intellectual property where there is no verifiable market value on hand.These assets have to be appraised by experts in their respective fields, and this can take time. Liquid assets like bank accounts and retirement accounts are easier to value, but real estate, business interests, and other illiquid assets may take time to sell.
• Location of assets. If there are assets across state lines and in multiple different areas, the process can be lengthened. Extra time may be needed to gather and distribute these assets, depending on where they are.
• Claims against the estate. Any creditor claims against the estate will need to be settled. This is usually the job of the personal representative to review and resolve any claims before assets can be distributed.
• Tax implications. Estates may be subject to estate tax and the federal and state tax authorities may be involved. Tax matters are taken very seriously and it’s important that this is done correctly. It can take time to finalize the tax burden of the estate.
• Other challenges. Things like disputes about the will or disagreements between heirs and beneficiaries can occur during the process. These issues must be resolved and can add time.

FAQs

How Can You Speed Up the Estate Administration Process?

There are several ways to speed up the estate administration process in California. One way is to create a will. A will should outline how assets should be distributed, which can shorten the probate process. It takes the decision-making determination away from the court. Another way to speed up the process is to create a living trust. This can simplify the process and possibly allow you to skip probate. An experienced attorney can help you explore other ways to speed up the process.

How Long Do Most Estates Take to Settle in California?

There is no definite timeline for settling estates in California. Each estate is different, and the time it takes to settle will depend on the unique factors involved in the process. For example, large estates generally take longer to settle than smaller ones simply because there are more assets to identify and value. One can expect the process to take several months to finalize. Appraisals may need to be ordered, and creditors paid off, which can contribute to the long timeline.

Do I Need an Attorney to Complete the Probate Process in California?

No, you are not legally required to have an attorney to complete the probate process in California. However, it is highly recommended that you have one. An attorney can be the trusted resource you need to help navigate you through the legal complexities of the court system. Probate can become a complicated process, and issues may arise that you’re unfamiliar with. An attorney can help resolve these issues. They can also ensure your legal rights are protected.

Is There a Way to Avoid Probate in California?

Yes, there are legal ways to avoid probate in California. One way is to create transfers on death accounts. These could also be known as beneficiary deeds. These allow you to leave assets with someone else without creating a trust. This can be created while the person is still alive, and it doesn’t go into effect until the person dies. The assets will be transferred to the beneficiary upon death to avoid probate. Assets could include real estate, bank accounts, or investment accounts.

What Does an Estate Planning Attorney Do?

An estate planning attorney can help in all forms of estate planning. A seasoned attorney can help create a will, identify beneficiaries, establish a power of attorney, determine the right kind of trusts for you, and help you create a comprehensive financial plan that protects your estate. No one wishes for their estate to be left up to the unknowns of the court system. You should engage an estate planning attorney who can help put a proper plan in place for you.

A Legal Team That Can Help

At Hinojosa & Forer LLP, our legal team is ready and able to assist you with any questions you may have regarding probate or your estate in California. We have a demonstrated history of advising residents all across California with their estate planning needs. Contact us today at our office in Los Angeles to speak with a member of our team.