If a person dies without a will or a trust their affairs still have to be wrapped up. Under current California law, if an aggregate estate is worth less than $150,000 an affidavit may be prepared under California Probate Code Section 13100 to present to a third party for payment of a decedent’s assets. There are time restrictions on this procedure.
Even when a person dies with minimal assets certain information has to be provided to the IRS, Franchise Tax Board and other governmental agencies. If real property was jointly held paperwork needs to be provided to the Recorder’s Office to update the title to the property. Final Income Tax Returns need to be prepared for the decedent. There may be employment or life insurance benefits to collect.
We can assist with the administration of small estates.