Moravec Varga & Mooney

When a loved one dies, gaining access to their financial accounts can feel overwhelming—especially if you want to avoid the time and cost of formal probate. Fortunately, some bank accounts in California can be claimed without going through probate, depending on how they’re structured and the total value of the estate. Here’s what you need to know to claim a deceased person’s bank account without probate. 1. Check If the Account Has a Payable-on-Death (POD) Beneficiary Many ba

When a loved one passes away in California, and they leave behind a bank account in their name only, you may be able to claim the funds...

When someone passes away and their estate enters probate, the court often requires the personal representative (executor or administrator) to obtain a probate bond—a type of insurance that protects heirs and creditors from potential mismanagement of estate assets. But many people wonder: Who pays for the probate bond? In California, the answer is typically the estate itself, not the personal representative. However, there are exceptions and nuances worth understanding. What I

The untimely passing of music superstar Prince was a shock to everyone who grew up with his music. As an estate planning attorney, one of the first assumptions many people made was that Prince must have had extensive estate planning in place. He was surrounded by attorneys, business advisers, and money managers. He owned valuable copyrights to his music, had a highly valuable public brand and name, and had an estate large enough to raise serious estate tax questions. Accordin