San Diego Estate Planning Lawyer Blog
In San Diego, the filing of a petition for probate is the beginning pleading to allow the San Diego Superior Court to obtain jurisdiction over the decedent’s estate. When the court appoints a personal representative, there are many liabilities and duties. In probate litigation, it is very important to understand your rights and also your responsibilities.
Some duties include managing the assets of the estate. Considerations for this are as follows: interest bearing accounts and other investments; keeping estate assets segregated; prudent investments and there are other restrictions. There may be a bond equired in order to be appointed at the personal representative.
Other duties include an inventory of the property of the estate. Considerations for this include filing an inventory and appraisal, determining the property value, locating any property of the estate and filing a change of ownership if necessary. There are many duties in addition to these and also included in this general description and also liability if the law is not followed.
The personal representative may also have to give notice to creditors, obtain insurance and keep accurate and complete records.
Our estate planning law office can represent in a probate case and please feel free to contact us to make sure your rights are protected and to make sure you are in compliance with all laws and regulations. We want to protect you.