California sets ordinary probate fees by statute, so the cost of administering an estate follows a formula. The personal representative and the estate’s attorney are each paid on the same sliding scale. These sections explain how the scale works and what can change the total. The Statute Sets Fees in Percentage Tiers Probate Code Section 10800 sets the ordinary compensation of a personal representative, the person a will names as executor, as a percentage of the estate value accounted for. The percentages drop at each tier, as shown here: 4 percent of the first $100,000 3 percent of the next $100,000 2 percent of the next $800,000 1 percent of the next $9,000,000 0.5 percent of the next $15,000,000 For any value above $25,000,000, the court decides a reasonable amount. Each Percentage Applies Only to Its Own Tier A $500,000 estate doesn’t pay 2 percent on the whole amount. The first $100,000 is charged at…Read More
Creating a living trust is an important step in protecting your assets and planning for your family's future. However, one decision that deserves just as much attention is choosing who will manage your trust when you are no longer able to do so. This person, known as a Successor Trustee, plays a critical role in ensuring your wishes are carried out. A Orange, CA living trust lawyer can help you create a trust that reflects your goals and guide you through important decisions about how it will be managed. Selecting the right individual can help prevent unnecessary complications, reduce the potential for family disagreements, and provide a peaceful situation for everyone involved. What is a Successor Trustee? A successor trustee is the person or entity designated to take over the management of a trust when the original trustee can no longer serve. This may happen due to incapacity, resignation, or death. Depending on the terms…Read More
More Than One Way to Create a Valid Will Many people assume a will only counts if it was prepared by an attorney, typed, and signed formally in front of witnesses. California law actually recognizes two distinct paths to a valid will, each governed by its own specific requirements, and understanding the difference matters for anyone in Orange planning their estate. The Formal Witnessed Will Under California Probate Code § 6110, a standard will must be in writing and signed by the person making it, known as the testator, or by someone else in the testator's presence and at their direction. This type of will is also required to have the signatures of at least two witnesses, both present at the same time, who watched the testator sign or acknowledge the will and understood the document was intended as a will. Must be in writing and signed by the testator or at their direction Requires…Read More
Most people assume a will has to be typed, witnessed, and formally executed to count. California recognizes an important exception, but the requirements for making it work are narrower than many people realize. What Makes A Will Holographic In California Under California Probate Code Section 6111, a will is valid as a holographic will, whether or not witnessed, if the signature and the material provisions are in the handwriting of the person making it. What Actually Counts As A Material Provision Material provisions generally mean the substantive terms of the will, such as who receives specific property and how the estate should be distributed. These key terms must be in the testator's own handwriting, though a holographic will can incorporate a commercially printed form for other portions of the document. Why No Witnesses Are Required For This Type Of Will Unlike a standard typed will, which generally requires two witnesses to be valid, a holographic…Read More
