Legal Question in Wills and Trusts in California

Re: Annuity Part of Probate?

An annuity may not be a part of probate if it can pass directly to beneficiaries through the use of a beneficiary designation. Each annuity is different so more information is needed.

If the actual amount of assets that you cannot reach are less than $100,000.00 -- summary probate proceedings are appropriate. Sounds like this estate falls into this category.

An annuity, however, may be calculated as part of the total value of the estate for estate tax purposes. If the estate is worth less than $1.5 million provided that the person died this year, there will be no estate tax.

An attorney can request a retainer against costs (filing fees, postage, etc.) for probate. Probate fees are statutorily based and payable when the estate closes with the judge's order. Some attorneys choose to charge by the hour for probate often resulting in a savings from the statutorily based fees.

An attorney is required to give you your paperwork back upon request. This is regardless of whether you owe attorney fees. Your paperwork cannot be held hostage.

I hope this helps.

Re: Annuity Part of Probate?

If there are beneficiaries validly named, the annuity will likely pass directly to them outside of probate. The rest, then, if under $100,000, should be obtainable by a small estate declaration, also outside of probate. The attorney has to give you your file back regardless of whether you owe money.