Once the four-month waiting period for creditors to file claims against the estate has passed and all approved claims and bills are paid, the Administrator/Executor petitions the court for the authority to transfer the remaining assets to beneficiaries as directed in the decedent’s Will or, if there was no Will, according to California succession laws. It’s imperative that the Administrator/Executor keep detailed records, as the petition may include an accounting of how the assets were managed during the Probate process. Once the petition is granted, the personal representative may draw up new deeds for property, transfer stock, liquidate assets and transfer property to the appropriate recipients.