A probate administrator by its terms is a person or entity who is appointed by the Court via probate court procedures which are set up in California for the appointment of fiduciaries who are either administrators or executors.
Types of Probate Administrators in California
- An Individual Administrator
- A Professional Administrator
- The Public Administrator
- Bank Administrators
- Trust Company Administrators
Why prebonding an administrator is important?
When you have someone who wants to become an administrator, you must make sure he or she is bondable. A bond is a surety contract which insures the actions of the Estate Administrator.
Bond before Order for Probate
California Probate law requires that an administrator, other than the Public Guardian or Trust Companies, be bonded, or the liquid asset must be blocked. As a matter of practicality, the can be difficult, if you have stocks or if a mortgage must be paid during the estate administration period. A bond waiver is not always available, and the estate court does not favor bond waivers. Therefore, always prebond the proposed administrator, before you get into a probate case. Inability to post a bond means that the administrator will not be appointed and Letters will not issue.
What to do after the Order for Probate has been issued?
A form called Letters of Administration is filed with the Court which is actually the authority for the administrator to act. Without it, the administrator has no powers.
What deadlines exist after the Probate Administrator is legally appointed in California?
Yes, there are many deadlines after the appointment of a probate administrator. An inventory has to be filed, notice to creditor must be given, notice to government entities must be given, and an accounting must be timely filed in Court.
Getting Court Approval for the Accounting of the Administrator:
A Petition for an Interim Account or for a Final Accounting is filed in Court letting the public know of the transactions of the administrator. The Petition for an Accounting asks that the actions of the administrator or executor be approved by the Court.
Making sure the Probate Administrator properly distributes the assets to the beneficiaries:
An estate administrator must file receipts with the Court showing the distributions were per a Court order. Failure to file, subjects the Administrator to a surcharge.
Getting the Probate Administrator discharged from its court duties:
Once all receipts have been filed with the Court, the Administrator is ready to be discharged by an Ex Parte Application for discharge.
What does the exoneration of bond mean to the Administrator?
The exoneration of bond means that the bond no longer is effective as to the administrator. This is usually done when the accounting is approved by the Probate Court.
Call or Contact Mina Sirkin Attorney for Probate Administrator appointments at 818.340.4479.
