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Probate Alternatives in Estate Planning in California

Learn to identify ways for your clients to avoid probate to reduce delays and expenses.

Many estate planning clients in California are rightfully wary of having their estate pass through probate. Probate is the time-consuming and expensive administration of a decedent's estate. In California, the overburdened courts can delay the distribution of a decedent's assets by a year or more, and the beneficiaries needlessly pay tens of thousands of dollars in filing and administrative fees. How can we provide value to our clients in helping them avoid these draconian delays and expenses? This material will allow California-based practitioners to identify ways for their clients to avoid probate through various strategies, providing critical guidance and value to their clients in the form of reducing unnecessary delays and expenses in the administration of estates. This information is valuable not only to California-based estate planning practitioners, but also for general practitioners.

Runtime: 85 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What Is Probate, and Why Do I Want to Avoid It Like the Plague?

  • Discussion of Probate Process
  • Discussion of Probate Time-Frame and Fees

Examples of Estates Possibly Triggering Probate

  • Decedent Left No Will (Intestate)
  • Decedent Only Left a Will

Ways to Avoid Probate in California

  • Give It Away

- Yearly Gift-Tax Exclusion of $14,000

- Gifting of Property for Medi-Cal Planning

  • Have a Small Estate

- Personal Property Under $150,000

- Real Estate Under $50,000

  • Co-Own Property (Joint Tenancy or Community Property)

- Advantages and Disadvantages

  • Spousal Property Petitions

- Advantages and Disadvantages

  • Beneficiary Designations

- Retirement Accounts

- Life Insurance

- 401(k)s

- 403(b)s

  • Pay-On-Death (POD)/Transfer-On-Death (TOD) Designations

- Advantages and Disadvantages

  • Trusts (Living Trusts, Revocable Trusts)

- Legal Mechanism to Avoid Probate

- Advantages and Disadvantages

  • Heggstad Petitions

- Mechanism to Avoid Probate in Cases in Which Trust Was Not Fully Funded

  • Additional Resources for the California Practitioner

- CEB Estate Planning Treatise

- LexisNexis Drafting California Wills and Trust

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on October 27, 2017.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • CA MCLE 1.5
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • CA MCLE 1.5
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Paul Miller, Esq.

Paul Miller, Esq.

The Law Office of Paul Miller

  • Owner of the Law Office of Paul Miller in Santa Rosa, California, which is located 60 miles north of San Francisco in the heart of the wine country
  • Practiced estate planning, probate and trust administration law for the past 15 years, and his practice is exclusively focused on these areas
  • Attended law school with his sister, Sheila Miller, who is also an estate planning attorney who works with Mr. Miller
  • Regular presenter on the topics of probate and estate planning to other attorneys, paralegals, schools, and other community organizations
  • J.D. degree, cum laude, Empire College School of Law; B.S. degree, in Biology, UC Davis
  • Recently completed his Master of Laws in Taxation (LL.M.) degree with high honors from Golden Gate University in San Francisco
  • Can be contacted at 707-546-3491 or [email protected]
No photo available

Sheila Miller

The Law Office of Paul Miller

  • Attorney in the Law Office of Paul Miller in Santa Rosa, California
  • Practice is exclusively focused on estate planning, probate and trust administration
  • J.D. degree, Empire College School of Law; LL.M degree, Golden Gate University in San Francisco; B.S. degree, UC Davis
  • Can be contacted at 707-546-3491 or [email protected]
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Product ID: 401361
Published 2017
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