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You’ll also need to pay all applicable taxes,as well as file a final income tax return on the estate.
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In addition to the petition,you will need to file a valid will,if one exists,and the death certificate.
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It includes locating and determining the value of the decedent�s assets,paying his final bills and taxes,then distributing the remainder of the estate to his rightful heirs or beneficiaries.
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The significant loss of a decedent’s estate for the payment of attorney fees,executor compensation and court costs is a great motivator to put together a great estate plan Call Your Irvine,California Probate Attorney Now Irvine Probate Law The main reasons for setting up an irrevocable trust are for estate and tax considerations.
In the case of a small estate,or if the decedent left his assets in trusts or gifted them prior to his death,probate may not be necessary.