Monday, March 13, 2017

Probate - Reynold's Law LLP


Reynold's Law, LLP is a full service local law firm with expertise in: wealth preservation and estate planning, succession planning, business law (planning, entity formation, sales, mergers and acquisitions) real estate law (leasing, purchases and sales, construction), trust and estates litigation, business and commercial litigation.

About Us

Reynolds Law LLP is a new law firm, but our attorneys been around for a long time. Scott Reynolds was an equity shareholder at Gaw, Van Male, Smith & Reynolds APC since 1989. In March of 2015 Scott and two partners left GVM to start their own firm with the vision of dedicating a practice that could provide top tier legal services in Solano, Napa, Yolo, San Bernardino and Riverside counties. Reynolds law is comprised of all the attorneys and staff that were home based in the GVM Fairfield office including, Jim Forbes, James Haskell, Al Poire and Betty Homer along with their assistants. We have recently added the expertise of Anne Campbell and Kelly McDonald to our Trust Administration and Estate Planning team. Reynolds Law LLP is located in the same office space as we were before, 1411 Oliver Rd. suite 300, Fairfield CA. 94534.

Our attorneys have the skill set and backgrounds that you would expect from a large city firm, but offices where you live and work. Whether it’s drafting a will or trust, structuring your business, assisting when a loved one passes, or defending you when you are involved in Litigation, we specialize in helping you protect and plan for the things and people you care about.

The attorneys and staff at Reynolds Law love where they live and are committed to being a part of what makes Solano County and the surrounding communities great.

Probate

Probate is the legal process that takes place after your death to pass title of your assets and resolve any outstanding debts. The process is required for any estate with assets of $100,000 or more held solely in your name (not in a trust) with no valid beneficiary designation, regardless of whether a Will exists. All assets in probate are subject to state-mandated attorney and personal representative fees, as well as court costs.

The person to be appointed as personal representative begins the probate process by meeting with a probate attorney. After getting the necessary information, the attorney files the appropriate documents with the probate court to have the personal representative appointed. A valid Will dictates the disposition of the assets. In the absence of a valid Will, California law determines a decedent’s heirs. Due to notice requirements for heirs, beneficiaries, and creditors, probate takes an absolute minimum of six months to complete. Without a skilled attorney, a probate can take years to settle.

Probate and probate administration is also a very expensive process. It can cost an estate up to eight percent of its worth to cover the attorney and personal representative fees. This does not include court costs. Depending on the size of your estate, this could mean tens of thousands of dollars or more that could otherwise have been passed to your heirs.

In addition, probate cases become public information, entitling anyone access to private matters and potentially causing embarrassment or aggravation to your family.

Planning ahead to avoid probate may be the single most important act you can do to protect your heirs from this expensive, lengthy, and annoying process. Attorneys at Reynolds Law LLP provide expert legal guidance in both avoiding probate, and handling the probate process efficiently if it becomes necessary.

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