Disclaimer: This information is not legal advice. It is for educational purposes only. Consult an attorney licensed in California for advice.
Detailed Answer
Gathering key documents and details before death can significantly reduce delays and costs during probate. Under California law, probate is the court process managing a decedent’s assets and debts. Advance preparation helps the personal representative (executor) meet statutory deadlines and file accurate estate inventories.
1. Estate Planning Documents
- Last Will and Testament: Ensure a valid will signed and witnessed under California Probate Code §6100 (PC 6100).
- Revocable Living Trust: Include trust agreement and amendments. Trusts avoid probate for trust assets.
- Transfer-on-Death Deeds: For real estate, record a deed under Cal. Prob. Code §5600 (PC 5600).
- Durable Power of Attorney: Designate an agent for financial decisions.
- Advance Health Care Directive: Appoint a health-care agent and state treatment preferences.
2. Asset Records
- Real Property: Deeds, mortgage statements, property tax bills.
- Bank and Brokerage Accounts: Account numbers, recent statements.
- Retirement Accounts & IRAs: Account details and beneficiary forms.
- Life Insurance Policies: Policy numbers, contact info, beneficiary designations.
- Business Ownership Documents: Operating agreements, share certificates.
3. Debt and Liability Information
- Credit card statements.
- Loan documents: mortgages, auto loans, personal loans.
- Outstanding bills: utilities, medical bills, subscriptions.
4. Digital Assets and Credentials
- Online account list: email, social media, digital wallets.
- Password management: use a secure password manager.
- Fiduciary access: Under Cal. Prob. Code §1321 (PC 1321), grant fiduciary access to digital assets.
5. Personal and Contact Information
- Family and beneficiary contacts: names, addresses, phone numbers.
- Attorney and accountant details.
- Funeral home preference.
Helpful Hints
- Keep all originals in a secure location, such as a safe or safe-deposit box.
- Provide your personal representative with access instructions.
- Review documents every two years or after major life events.
- Keep a master list of assets and update it regularly.
- Consider professional help to draft or review legal documents.