Q: Question regards to probate asset inventory, attorney fees, engagement with a laywer no Will, no living trust, Dad CA
-My father deceseased in CA. he has no Power of Attorney, no Will and no Living Trust
- My dad didn't tell me if he named me as beneficiary on his IRA accounts. Fidelity and Vanguard delcined to answer beneficiary question due to now POA.
-How will probate referee will conduct/monitorestate inventory. Will they visit deceseased person's home?
-If I list non-probate assets (real estate, vehicle, IRA accounts) on probate inventory report, will the probate court exclude them from the probate process?
-My dad has IRA accounts (401k, 403b), University California retirement saving funds, can I contact Fidelity, Vangurd, UC pansion system ask themif he named a beneficiary on his accounts (attorney suggested talk to him first before contact any financial firms)
-Is it necessary to hire an accountant and apprisal firm to assist inventory process?
-when review contact from the lawyer, what content shall I pay attention to? To ensure the contact has no flaws.
A:
Power of attorney issue is irrelevant. It terminates upon the death of the principal.
The probate code lists who the beneficiaries are under intestate succession (when the decedent passes without a will).
Any account (bank, retirement, life insurance, etc) with a listed beneficiary passes outside of probate to the person named as the beneficiary. They will want a copy of the death certificate, and even with it they may or may not talk to you unless you are the named beneficiary. They may want to see the letters testamentary from the probate court naming you as the administrator before they give you any info.
You will probably need to have real estate appraised as part of the probate process. You listed real estate as a non-probate asset, which is not normally the case. Unless you or someone else is on the deed (ie joint tenancy) then the real property will be part of the probate estate. Vehicles can be transferred after 40 days past the owner's death, unless a probate is being opened, in which case you will need to produce your letters to the DMV when you sign the transfer affidavits.
Its not clear from your inquiry, but it sounds like you may already be working with an attorney. If so, these questions are best directed to him or her. If you haven't hired an attorney, you would be well advised to do so. The probate process is not necessarily simple, there are notifications that need to be made, deadlines that have to be met, and legal pitfalls abound if you get it wrong.
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