Four attorneys gave a guide to transferring estate without going through probate at the Joseph B. Campbell Inn of Court Feb. 8.
David Colella, Lisa Crane, Susan Grabarsky and Mark McGuire presented in the meeting of 38 people at the American Legion Post #106 in Redlands.
They offered the following procedures, each of which can be supplanted by probate.
Whether a person should use one process or another is a question to ask an attorney familiar with their individual case. The Judicial Branch of California also provides information on simplified procedures to transfer an estate on their website.
- Joint tenancy assets
- Vehicles, houses and bank accounts that are co-owned can be transferred to the surviving owner. That owner has to record an affidavit of death of joint tenancy with a certified copy of the deceased’s death certificate. Each institution that manages the account or vehicle has its form to fill out. These assets are also exempt from revenue tax and both California and federal tax transfer.
- Pay on death accounts
- Bank and financial accounts can list the beneficiary in case of death. The titles pass by operation of law. Each institution that holds the account has their own form to fill out in order to claim the account.
- Transfer on death deeds
- A property owner can name someone as the successor in interest. If the owner dies, the named inheritor can file an affidavit of death within 60 days of death to have the property transferred to them. If they miss that 60-day mark, the named transfer becomes void.
- Probate Code 13100 declarations
- Estates with assets less than $184,500, not including real estate, can be transferred to heirs with a Section 13100 Form. The DMV and financial institutions may have their own form to use. All heirs must agree to use it. It is possible for one out of many surviving heirs to claim a person’s property after death, but the remaining heirs can sue to regain their share of the inheritance.
- Small estate affidavits
- Estates, including real estate, that are valued less than $61,500 can be transferred in a summary proceeding through Probate Code Section 6600, using form DE-305. After the form is filled out, an inheritor can drop it off in court. There is no hearing. This method of transferring requires a property value appraisal by the probate referee. The biggest issue is determining the date of death value for interest in all property.
- Positions to determine title
- Property valued less than $184,500, including real estate, can be transferred using a position to determine title. All heirs must sign off on this form.
- Spousal property petitions
- A surviving spouse can petition the court to give them all the community property without probate. There is no max value for this method, and it only needs to be signed by the surviving spouse.
This is a report of what was shared at the meeting and not intended to serve as legal advice.
