Probate or the legal process wherein the estate of a decedent is administered can vary depending on the size of the estate, particularly if the decedent did not have a Living Trust.
California Probate Code §13100
provides the authorization to act without procuring letter of administration or awaiting probate. This section will apply if the gross value of the decedent’s real and personal property in this state does not exceed one hundred fifty thousand dollars ($150,000) and if 40 days have elapsed. The application of this section will allow the successor of the decedent to do any of the following with respect to one or more particular items of property:
(a) Collect any particular item of property that is money due the decedent (this includes bank account(s), and safe deposit boxes);
(b) Receive any particular item of property that is tangible personal property of the decedent; and
(c) Have any particular item of property that is evidence of debt, obligation, interest, right, security, or chose in action belonging to the decedent transferred, whether or not secured by a lien on real property.
If you have questions about Probate or an inheritance, call Attorney Ali Talai @ 818-992-2901 or visit our website @ www.TalaiLaw.com.