Aretha Franklin
The recent death of famed entertainer Aretha Franklin came with a startling surprise. It seems that she left an estate worth about $80 million, but she died without leaving a will. Some other rich and famous individuals, like Howard Hughes, the entertainer Prince, and artist Pablo Picasso reportedly also died without a will. A recent […]
A Rock And A Hard Place
If you know of someone who recently passed away, and who was the breadwinner for their family, the family may find themselves in an awkward position of protecting the remaining Estate assets, but not knowing much about the assets and/or how to protect them. Bills may be piling up. A mortgage and property taxes must […]
Who Is The Manager Of An Estate?
There are two different terms for the individual that manages the process of an estate; either an Executor or Administrator. If there is a Will, the manager will be referred to as the Executor, and the estate is deemed to be Testate. If there is no Will, the manager will be referred to as the […]
What Is The Difference Between A Trust And A Probate Estate?
In the state of California, the estate of a decedent will normally be managed and distributed by either a Trust or a court supervised probate process. One exception is that if the net value of the estate is less than $150,000 (in personal property), the administrator may choose to bypass both and simply pay the […]
Inheritance Loan vs Inheritance Cash Advance
You may be an Heir or an Administrator in a Probate Estate that is expecting or in need of cash. In general, a Court appointed Administrator may take out a secured loan (secured by the Estate home) for the benefit of the Estate. An Heir has no authority to encumber the Estate home or take […]
Am I A Probate Heir?
How are heirs in a probate estate determined? Often times, the deceased has left behind a Will, in which the beneficiaries are specifically identified. The respective amounts or percentages for the beneficiaries may be equally shared, or the deceased may have determined different percentages or amounts, or other various options. If there is no Will, […]
What Are The Benefits Of A Probate Cash Advance?
The probate process in the State of California, now takes about 18 months. It is not uncommon for this to take considerably longer. The Courts maintain strict oversight over the process, but are extremely overburdened. Hearing dates are constantly pushed out, and there are often other matters that delay receipt of an inheritance. Meanwhile, the […]
What is the difference between a loan and a probate cash advance?
I will begin by stating that while most people think of a probate cash advance as a loan, this is generally not the case. Most probate inheritance cash advances are actually assignments of interest. The heir has a probable inheritance coming their way, but often cannot wait until the completion of the court supervised process, […]
How Is the Administrator of an Estate Determined?
In the Estate where a Will is offered for probate, a proposed executor (and sometimes an alternate) is nominated in the Decedent’s Will. The deceased will generally choose a trusted family member, and occasionally they will choose an unrelated trusted individual such as a lawyer, financial specialist, or private professional fiduciary. In an Estate where […]
Does your Probate Estate includes Property with Outstanding Mortgage Balance?
What to do when a probate estate includes property that has an outstanding mortgage balance? Most often, a probate estate includes a home or other properties that have an open mortgage balance. It is crucial that payments on the mortgage are kept up to date. It is the obligation of the estate administrator to see […]
