Legal Question in Wills and Trusts in California
an account was not listed in a living trust, how can I handle this account? the company is requesting a letter of testamentary but that seems like an outcome from probate.
this is only 1 investment account of many and there is no issue regarding surviving spouse, etc.
2 Answers from Attorneys
The key issue is if worth more or less than $150,000. If less then you can do a California Probate Code 13100 small estate affidavit. If more than $150,000 then you will need a probate court order. It may be in the form of letters testamentary (which would mean a full probate) or possibly it would be a "Heggstad" order. If you google heggstad petition you can find out if you might qualify for that or email me directly and I can give you my opinion. -John
P.S. More info at http://www.californiaprobate.info/category/heggstad-petitions
I agree with John. If the accounts value is less than $150,000, you can do whats called a "small estate affidavit". If it is $150,000 or more, a formal probate may be necessary.
Please contact me if you need assistance with this matter. (818) 943-5115
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