New Probate Law Simplifies Transfer Of Primary Residence On Death
California’s new 2024 law AB 2016 allows a new, simplified probate Petition to Determine Succession to Real Property for heirs and beneficiaries to receive a decedent’s primary residence if valued <$750,000. The goal- helping more families to receive the family home without the delay and cost of a full probate estate. The new procedure will primarily benefit middle-income families in non-urban areas, where home values are under the $750,000 limit.
Other assets (not real estate) totaling around $200,000 can be passed using a separate Small Estate Affidavit.
These documents must be signed by all of the persons entitled to receive the property, either:
- Beneficiaries under a Will, or
- Intestate Heirs if the decedent had not signed a Will
In addition, heirs who are not beneficiaries must receive Notice of the Petition.
There are many circumstances when the new summary procedure is unavailable or ill-advised. The new co-owners will need to agree on the sale or use of the home. And they will be subject to personal liability for outstanding debts and claims.
For this reason, a Revocable Living Trust prepared with an experienced estate planning attorney is still the best planning to avoid California’s burdensome probate estate proceedings.