Huntington Beach, California Attorney, Mark W. Bidwell

Collect and Transfer Bank and Brokerage Accounts

A powerful tool to collect bank and brokerage accounts of a relative who has died is California Probate Code §13100. This law provides for the collection of personal property of a decedent by affidavit or declaration without going through probate. The affidavit/declaration is made by the decedent's "successors,” (persons succeeding to the property by will or intestacy).

Why this is so powerful of a tool

The affidavit/declaration is not filed with the court, just submitted to the financial institution.

A notary public's certificate of acknowledgment identifying the person executing the affidavit/declaration is reasonable proof of identity of the person executing the affidavit or declaration. Personal appearance before the bank or court by the successor is not needed.

If the financial institution holding the decedent's property refuses to pay, deliver, or transfer any personal property within a reasonable time, the successor may compel compliance by filing a complaint in Superior Court. The Successor is allowed to recover reasonable attorney fees.

We cover all of California

Real Property

When California real property is owned by a person who has died and that property is in that person’s name only, a court order is required for distribution to heirs. There are two options. The procedure to use depends on the fair market value of the real property on the date of death.

Real property valued greater than $150,000 requires “Administration of Estate of Decedent” also known as probate, in the Superior Court of California. Administration requires the filing of two petitions. The first petition is for a court order for appointment of a personal representative of the decedent. After appointment, the personal representative settles all debts of the decedent and may sell the property. The second petition is for a court order to transfer the real property or distribute the sale proceeds to decedent’s heirs.

The second option is a “Court Order Determining Succession to Property.” Succession requires only one petition to obtain an order. But Succession is only available for real property values less than $150,000. So, in real life, this procedure is available for real property located outside of major cities or for when a decedent was a part owner of real property located in a city.

Title to a decedent’s real property transfers on the decedent’s death to the person to whom it is devised in the decedent’s last will or, in the absence of a will, to the decedent’s heirs as prescribed under California law. Transfer requires a court order.

Real property with a market value greater than $150,000 as of date of death requires two petitions and two court orders under the probate laws of “Administration of Estate of Decedent.” Real property valued at less than $150,000 requires just one petition and one court order using the procedures provided under the probate laws of “Succession to Property.”  

Additional information www.CaliforniaSmallEstate.com

California Counties.  Alameda, Alpine, Amador, Butte, Calaveras, Colusa, Contra Costa, Del Norte, El Dorado, Fresno,  Glenn, Humboldt, Imperial, Inyo, Kern, Kings, Lake, Lassen, Los Angeles, Madera,  Marin, Mariposa, Mendocino, Merced, Modoc, Mono, Monterey, Napa, Nevada, Orange, Placer, Plumas, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz,  Shasta, Sierra, Siskiyou, Solano, Sonoma, Stanislaus, Sutter, Tehama, Trinity, Tulare, Tuolumne, Ventura, Yolo, Yuba

Local locations. California City located in the northern Antelope Valley area. Hesperia in the Mojave Desert area of San Bernardino County, Bakersfield and Lancaster

Financial institutions

JPMORGAN CHASE & CO.

BANK OF AMERICA CORPORATION

CITIGROUP INC.

WELLS FARGO & COMPANY

GOLDMAN SACHS GROUP, INC.

METLIFE, INC.

MORGAN STANLEY

U.S. BANCORP

BANK OF NEW YORK MELLON CORPORATION

HSBC NORTH AMERICA HOLDINGS INC.

PNC FINANCIAL SERVICES GROUP, INC.,

CAPITAL ONE FINANCIAL CORPORATION

TD BANK US HOLDING COMPANY

STATE STREET CORPORATION

ALLY FINANCIAL INC.

BB&T CORPORATION

SUNTRUST BANKS, INC.

PRINCIPAL FINANCIAL GROUP, INC.

AMERICAN EXPRESS COMPANY

AMERIPRISE FINANCIAL, INC.

RBS CITIZENS FINANCIAL GROUP, INC.

REGIONS FINANCIAL CORPORATION

FIFTH THIRD BANCORP

BMO FINANCIAL CORP

CHARLES SCHWAB CORPORATION

UNITED SERVICES AUTOMOBILE ASSOCIATION

NORTHERN TRUST CORPORATION

UNIONBANCAL CORPORATION

KEYCORP

SANTANDER HOLDINGS USA, INC.

M&T BANK CORPORATION

BANCWEST CORPORATION

DISCOVER FINANCIAL SERVICES

BBVA USA BANCSHARES, INC.

DEUTSCHE BANK TRUST CORPORATION

COMERICA INCORPORATED

HUNTINGTON BANCSHARES INCORPORATED

ZIONS BANCORPORATION

E*TRADE FINANCIAL CORPORATION

UTRECHT-AMERICA HOLDINGS, INC.