Legal Question in Wills and Trusts in California
Executor Fees
I would like to know what the fee is that the Executor gets for his services - the estate is under $100,000. I would also like to know if, in signing release papers for a vehicle with the DMV, the signatures of the beneficiaries are limited to immediate family - in this case, children of the deceased, and grandchildren signatures would not be necessary, even though they are beneficiaries in the Will.
Thank you for any information that you can give me.
4 Answers from Attorneys
Re: Executor Fees
An estate valued at under $100,000 does not require a probate. Some basic information and forms are avaialble under the "small estates" link on our firm's web site at www.No-Probate.com.
There are also some DMV forms avaialble there as well that should be of some assistance. The DMV has their own procedures for vehicle transfer.
If you would like some assistance with the process, please feel free to contact me either through the site (No-Probate.com) or directly at 626-578-0708.
Warmest Regards,
Scott Linden
Re: Executor Fees
Depends. Does the will say anything about it?
Re: Executor Fees
An estate under $ 100K does not require probate. Call me directly at (619) 222-3504.
Re: Executor Fees
Keep in mind that the Probate Code provisions relating to executor's fees (and attorneys fees which are the same) and for collection or tranfer of a small estate without administration ($100,000 or less) are based on the gross estate value (the value of assets subject to probate without reduction for liabilities).
In addition, the maximum gross value of real property that can be transferred by affidavit (without probate) is $20,000.
For these reasons, probate may be necessary - depending upon the specific facts and the language of the will. SEE:
http://www.leginfo.ca.gov/cgi-bin/displaycode?section=prob&group=10001-11000&file=10800-10805
http://www.leginfo.ca.gov/cgi-bin/displaycode?section=prob&group=13001-14000&file=13100-13116
http://www.leginfo.ca.gov/cgi-bin/displaycode?section=prob&group=13001-14000&file=13200-13210
With regard to the DMV question, it depends upon the language of the will.