What to do if additional assets are discovered after a small estate probate has been completed?

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What to do if additional assets are discovered after a small estate probate has been completed?

My brother-in-law passed away 9 years ago. He had no spouse or children. At the time we believed that he had a small estate consisting only of a small retirement plan. We used the small estate procedure to transfer the assets to his mother. We’ve recently discovered that he also had a substantial amount of stock worth worth more than $150,000. Do we need to go through probate? If so, will we also need to publish a notice in the newspaper again? Since his death was so long ago, do any potential creditors have a claim?

Asked on August 19, 2014 under Estate Planning, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Yes, you need to go through probate in order to be able to liquidate or transfer the securities to your Mother in Law. The court will determine if you need to republish and that will be partially based on if creditors came forth the first time. Good luck.


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