In California, any creditors have up to four months to make their claims. Usually, executors simply pay outstanding bills that the estate has. Of course, they don’t pay anything until a complete inventory of the estate is taken. Many times, estates don’t ever get any formal claims. If there isn’t enough money to pay all creditors, then California probate law specifies the order in which any claims need to be paid from all the assets that are listed on the estate’s inventory of assets.
Here’s the law that specifies the order that claims are to get paid in.
Only after all creditors and taxes are paid can the executor ask to close the estate. Before that point, the executor is not allowed to distribute any of the estate’s assets to the heirs standing to inherit assets or money.
Do You Need A California Realtor Specializing In Probate?
We are experts in the probate sale under the probate code and trust law. So, we know the California Probate Code. We won’t let you get lost in it. If you need a realtor in California specializing in probate, please contact us today! We are upfront and honest about the costs of probate. Everyone wants to know about probate fees, but no one wants to talk about them. We will though. Sentinel Realty Partners wants our clients to be fully prepared and fully informed about buying or selling California probate real estate.
We have a list of the absolute best probate lawyers in California available for our customers. Plus, we also have relationships with the most vetted contractors, plumbers and electricians in California. See? We will guide you through every step of the process of selling (or even purchasing) a home involved in probate.
If you are buying a home in California, please have a look at our probate property search. If you need a Los Angeles, Orange County, Riverside, or San Bernardino professional to help you through the probate real estate maze, call us! These waters a murky, and you’ll want a knowledgeable, dependable, responsive team behind you. Check out Sentinel Realty Partners’ client reviews.