In local Los Angeles County and Orange County probate courts, filing is getting backed up. Dates for hearings involving trust, probate and other matters heard in Probate Court used to be set for hearing within a reasonable 30 to 45 day timeframe from date of filing. In the past few months, routine matters are now being set for hearing 90 to 100 days out from date of filing. Conservatorship and Guardianship matters tend to get priority, but this is still very alarming!
Petitions are typically filed in Probate Court to obtain a Conservatorship, Guardianship, open a Probate or handling a Trust matter. Contests are also filed in Probate Court involving Wills and Trusts. Routine petitions are also filed to put property back into a Trust, to reform a Trust or otherwise obtain instructions regarding administering a Trust.
What does this mean?
Well, obviously, the delays in getting a petition heard and otherwise dealt with in Probate Court are going to take longer meaning more costs in terms of money and emotions.
How can you avoid this?
Well, it is about making sure you have taken responsibility to ensure that your affairs are in order. If you become incapacitated or die — do you have all of the documents in place, reviewed, updated and all of your assets transferred into your Trust or otherwise named with payable on death beneficiaries?
Make this happen.
Review your documents, research what needs to be done. Hire an attorney to draft the legal documents, assist you with putting your assets into your Trust or otherwise ensuring that they are properly handled. Talk to your CPA regarding potential tax issues. Discuss with your financial advisor about insurance products and other related issues. You need to cover all aspects of your life: legal, medical and financial come to mind. Do it while you are young so there are no grounds for challenge or a contest. Keep updating it as you get older and your life changes around you.
Make it a goal to keep your affairs out of the Courts.
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Estate Planning, Probate and Trusts involve complex areas of law. Individual circumstances must be considered before any advice can be given. The general information above is not to be construed as legal advice, which can only be given after consideration of the unique facts of each matter. Please seek the advice or counsel of your attorney, financial advisor or CPA as it may be appropriate.