Legal Question in Wills and Trusts in California

Re: How to proceed with executing a will

Probate will probably be required if the account is worth more than $100,000 and is in the deceased's name only. Some exceptions to probate follow:

Generally, if the account (and everything else in the estate) is worth less than $100,000, the beneficiaries can claim their inheritance through an affidavit procedure without the need for a court probate process.

If the account is held in joint tenancy, the surviving joint tenant(s) are entitled to it.

If the account is a "Totten Trust" type account (with beneficiaries named on the bank's forms, e.g. "Deceased, in trust for John Beneficiary and Mary Beneficiary") then the beneficiaries can claim their inheritance directly from the bank.

Re: How to proceed with executing a will

I generally agree with what Mr. Johnson said. I would add that as executor you have a duty to the beneficiaries to properly account for and distribute the assets. To make sure you meet these obligations, you should probably have an attorney assist you. If you are in Northern California, please feel free to contact me.