The estate may encompass a variety of assets, such as real property, bank accounts, investment accounts, insurance, business interests, promissory notes, intellectual property, and personal items all of which may be physically located within the State of California, other states, and even foreign countries.
The administration of all estates is nothing more than a process and procedure with the goal of distributing the assets in the most timely and efficient manner to the intended beneficiary(ies).
Moreover, advances in medical science and technology has given some a longer life span, while exposing them to incapacity issues and long periods of institutionalization. This exposure necessitates the implementation of a process and procedure to assist that family member or dear friend with financial decisions or medical decisions.
The administration of a person and/or an estate can mean:
- The administration of an estate without Probate Court supervision (Trust Administration or Trust Substitute Administration), or
- The administration of a decedent’s estate under a Probate Court supervision (Probate Administration), or
- The Court supervised care and maintenance of property and/or an adult person during their lifetime (Conservatorship), or
- The Court supervised care and maintenance of property and/or a minor person during their lifetime (Guardianship), or
- A various combination of the above depending on the life or post life circumstance.
The court supervised administration is under the Probate Code (Probate Administration) and the non-court supervised administration is generally under the terms of, singularly or a combination of, a Trust (Trust Administration), Powers of Attorney, and/or an Advance Health Care Directive (or Health Care Power of Attorney).
Individuals who are appointed as the personal representative of a probate estate, a Conservatorship, a Guardianship, and those that are appointed as a trustee (or successor Trustee) of a trust estate will have to deal with rules, procedures and documents that contain unfamiliar terms and meanings, as well as being confronted with intimidating court appearances. They are required to carry out their representative responsibility adhering to strict ethical and strict fiduciary standards, while being concerned with potential personal liabilities all during a time of overwhelming anxiety and emotions.
The role of Copenbarger & Copenbarger LLP is to thoroughly guide and thoroughly counsel you through these processes and procedures with the ultimate goals of protecting the personal representative from legal exposure, and impowering the personal representative with the information they will need to carry out their duties and responsibilities of caring for the family member or dear friend, and distributing assets of the estate in the most efficient, timely and cost effective manner.