Legal Question in Wills and Trusts in California
When cashing US EE savings bonds above $100,000 the government requires probate to establish a letter of appointment to show the person processing the cashing in of these bonds has been assigned this administrative authority..
Does the California Simplified Probate satisfy this requirement.
Has there been case law where the US bond people accept this simplified probate document ??
2 Answers from Attorneys
The government wants Letters of Administration and the only way to obtain Letters is by filing formal probate.
The value cut-off for probate was raised to $150,000 on January 1, 2012. If the current fair market value is less than $150,000 and there are no other assets subject to probate, you can use a small estate affidavit.
If the value is over $150,000, then a full probate is required.
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