Question: When is Probate Necessary?
By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
A frequent question that real estate agents and heirs ask me: "Is probate really necessary?" The reason they ask the probate attorney this question is because they have heard that a probate is very expensive and time consuming. How expensive and time consuming is it? If a house gross value is $500,000, then the total cost of probate will be approximately $29,000 and it takes about one year to complete the probate court process. No heirs really want to go through a probate. This article will give a brief summary elucidating when a probate is necessary in California. Probate is a title clearing process. If you own a house in California and you die without a living trust, your heirs or beneficiaries will have to engage the probate court to transfer the title out of your name into theirs. T...
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