Many people talk about how California probate law exempts inheritances worth less than or equal to $150,000 from going to court. While, it's true that a simplified process exists, realtors should know the details. See, this specific process that people sometimes ask about can't be used for real estate properties. There is another process used for real estate in Californina if the estate had a value less than or equal to $150,000 on the date of death.
Clients can be informed of form called Petition to Determine Succession to Real Property (Estates $150,000 or Less). It's Form DE-310. This petition has to be filed with the court. Plus an appraisal on the property is required. Your clients will need to figure out if the value of the inheritance is worth $150,000 or less. Include life insurance and retirement benefits that are paid directly to the estate, but not if they skip the estate and pass on directly to the beneficiary. There's actually a complete list located in California Probate Code section 13050.
So, as you can see, while a client might think that they can skip probate court, they're usually wrong. That process is for other types of non-real estate property. The best thing you can do for a client is to suggest a great probate lawyer to explain everything. Be sure to have contacts available, because real estate clients depend on agents to help them through the whole process, even referrals.
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