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The significant loss of a decedent’s estate for the payment of attorney fees,executor compensation and court costs is a great motivator to put together a great estate plan.
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You’ll need to ensure the estate’s assets can cover all debts before paying them If not,the state will prioritize creditor claims assets.
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It is also recommended (but not required) that each person be sent a copy of the Petition for Probate with all attachments Notice must be given by first class mail or by personally delivering a copy to each person or entity at least 15 days prior to the hearing Each person should receive a copy of the “Notice of Petition to Administer Estate” showing the hearing date information Irvine Probate Law You’ll also need to pay all applicable taxes,as well as file a final income tax return on the estate.