Legal Question in Wills and Trusts in California

It depends on whether the Schwab account is set up to pay out on death. If so, you probably have no need to open a probate. If the Schwab account is just sitting in his name, however, you will need a probate to get orders allowing Schwab to turn the funds over to you.

Mr. McCormick is correct if the date of death value of the account was $100,000 or more. If under $100,000, you should be able to access with a small estate affidavit.

I am sorry for your loss. It appears others have given you the basic information. The general rule in California is there will be probate unless you fit into an exception. The main exceptions to probate are: 1) payable on death beneficiary is named and alive; 2) under $100,000; or 3) in trust. There are others but those are the main exceptions to probate. The probate code allows that $100,000 threshold to be determined now not at date of death in some code sections. It's thus important to meet with a qualified probate attorney. I work effectively with clients throughout the country so call or email me and we talk about your exact situation. I am a Certified Specialist in Probate Law per the California Bar Board of Legal Specialization. You can also visit our probate website at www.californiaprobate.info for more info. -John