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The California Codes are 29 legal codes enacted by the California State Legislature, which, alongside uncodified acts, form the general statutory law of California. The official codes are maintained by the California Office of Legislative Counsel for the legislature.
For example, in California, the law states that an executor must sell a home for at least 90 percent of its appraised value. Does an inherited property have to go through probate? Not necessarily.
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the state where the deceased resided at the time of their death.
In California, for example, if the gross value of your estate is $1 million, you'd pay around $23,000 in executor/administrator fees: 4% on the first $100,000 ($4,000) 3% on the next $100,000 ($3,000)
The Uniform Probate Code (commonly abbreviated UPC) is a uniform act drafted by National Conference of Commissioners on Uniform State Laws (NCCUSL) governing inheritance and the decedents' estates in the United States.
The post How to Avoid Probate in California appeared first on SmartReads by SmartAsset. Depending on the nature of any given asset, there are ways to avoid probate. Probate is the process of ...