Q: My mother passed with no will. Do we have to go through probate if it is only bank account and personal property?
My mother passed last week with no will. She has only a couple bank accounts and probably a small storage unit with personal items. There is a CD with me and my sister as the beneficiaries. So, the money in the accounts that does not list us is less than 50K, probably. There are no other assets. Will we have to go through probate or will a simplified transfer of estate in California be enough? If so, can we just do an affidavit by ourselves?
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A:
In California, if your mother's estate is relatively small and consists mainly of personal property and bank accounts, you might be able to avoid formal probate. California law allows for a simplified process for transferring small estates valued at $166,250 or less.
Since the amount in the accounts is less than $50,000, you and your sister can use the Affidavit for Transfer of Personal Property without Probate. This affidavit allows you to collect her assets without going through the full probate process. The CD with you and your sister as beneficiaries should transfer to you directly outside of probate.
You'll need to wait 40 days after your mother's death to use the affidavit. Ensure that you include all necessary information and have it notarized. It's also important to notify any other heirs or family members, as they may have a right to a portion of the assets.
While it's possible to complete this process without an attorney, it might be helpful to consult one to ensure that you're handling everything correctly, especially if there are any complications or disputes among heirs.
Remember, handling a loved one's estate can be complex, and it's crucial to follow the legal procedures to ensure a smooth transfer of assets.
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