Q: How is a final tax return filed in California if the deceased does not have anyone in charge of assets below $100,000.
The deceased is divorced and has 2 children that do not want to be involved. The deceased never set up a will, power of attorney, conservatorship or legal representative for his finances.
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A:
Under California law, when a decedent's assets are valued below $100,000 and there's no formal probate proceeding initiated, the heirs can use the "Affidavit Procedure for Collection or Transfer of Personal Property" to collect the deceased's assets. In this case, given that the children don't wish to be involved, another relative or interested party can step forward. They'd complete an affidavit asserting their right to the deceased's assets and describing the assets in detail.
This affidavit, typically executed 40 days or more after the death, can be presented to entities holding the assets. Once the assets are collected, the person would use these to pay any outstanding debts or final expenses, including the deceased's final income tax return. The State of California requires a final income tax return to be filed for the deceased for the year of their death. If no interested party steps forward, the assets may eventually escheat to the state. Always ensure that all legal procedures are meticulously followed, and it's wise to seek additional guidance when managing such matters.
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