The attorney is right about the $100,000 threshhold. Here's a
source:
http://www.lasuperiorcourt.org/probate/pdf/TransferForm.pdf
The fee estimate seems right. You didn't post the exact amount,
so I can't calculate. Here is a source containing the fee
schedule:
http://online.sfsu.edu/~rdaniels/caprobat.html
I don't know whether a probate can be done as fast as 12 months.
I've never heard of one being done in less than three years. But
there may be abriviated procedures for small estates. I wouldn't
know about that.
The best way to handle it is for the named executor to hire a
probate attorney and just watch the matter get handled. The
executor could learn how to handle it without an attorney. That
would save 4% if nothing goes wrong. I wouldn't try it. But here
is a source for a book on what the process entails. I haven't
read it, so I am not recommending:
http://www.perebruin.com/probdesc.htm
McGyver
I am posting this for my son-in-law, who just lost his father.
"Paul" died leaving between
$125,000 and 200,000 in a bank account which has only his name
on it. He did leave a will stating
how the money was to be divided. There was no real estate, and
his car and jewelery was left to his
ex-wife. The attorney he used told the kids that anything over
$100,000 had to go through probate,
and that it will take 8 - 12 months and $4000 - 5000.
Does this sound right? Would this be something the named
executer (?) could take to a judge and get
signed off or will they need a prolonged probate with an
attorney?? It sounds like the attorney
"Paul" used did not set this up nor did he advise "Paul" on
setting this up to avoid legal problems.
"Paul" had a prolonged and fatal medical condition. Is there
anyplace online to research CA probate
laws?
Thank you for your help and advice.
Bonnie
