Proving the Will
The next step in the process is “proving” the will. This means, the will must be shown to be valid. Wills are only legally binding if they were signed in front of at least two witnesses who ordinarily must be impartial to the will’s content.
Some wills are “self-proving.” This means:
- The will was signed by an adult who had testamentary capacity and was not under any undue influence
- The will was legally signed by both the decedent and at least two witnesses
In order for a self-proven will to hold up in probate, it must contain a self-proving clause that is signed by the witnesses under penalty of perjury.
If the witnesses did not sign the decedent’s will, they are required to create a formal self-declaration acknowledging they know the will was written or signed by the decedent. After they have written this self-declaration, they must present it to the probate court’s clerk and get it signed.
Gathering and Inventorying Assets
After the will has been proven, you will begin inventorying the estate’s assets. This process, also known as the “marshalling of assets,” is often the most time-consuming step.
To begin the inventory, you will need to take possession of the assets. You will have to obtain a tax identification number from the IRS, which will enable you to transfer the decedent’s assets into a special estate account. Along with transferring assets, you will also have to transfer any property, asset, or account titles specified in the will.
Transferable assets may include:
- Stock portfolios
- Transferable bonds
- Bank accounts or other deposited funds
- Real estate
- Motor vehicles
Gathering assets can be challenging. In addition to cars, real estate, and other common items, you may have to complete an inventory of an estate’s entire property—that can mean going through cabinets, drawers, armoires and jewelry boxes, and even email accounts. It is often helpful to keep a written or digital inventory.
Contacting Creditors
Once you’ve gathered all the estate’s assets, you must see whether any creditors have made a claim and asserted their right to any of the estate assets. If any claims are determined valid, they must be repaid before you begin distributing assets to heirs. Creditors have a total of four months to submit debt claims in California.
Estate Taxes
After any credit issues have been resolved, you’ll have to ensure that any estate taxes are paid. While you won’t be held personally liable for taxes if you forget, you may be penalized by the court for not following probate procedure.
Closing the Claim and Distributing Assets
At the end of the process, you will begin to close the estate. Before you can do so, you must:
- Compile a statement documenting all the actions taken to close the estate
- Submit the same petition to the court
- Give the probate clerk copies of receipts or intended payments to be made to the estate representative or attorney, if you hired one
The court may then approve or deny your request to close the estate. But once the estate has been approved for conclusion, the estate representative may begin distributing assets to beneficiaries.
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