Avoiding Probate with a California Living Trust

You can avoid your estate going through probate by executing a Trust and pour-over Will. There is a reasonable flat fee to prepare your estate plan and fund your real property and other assets into a revocable Trust, designate the beneficiaries you choose to inherit your estate and appoint guardians for your minor children. Now is the best time to put your estate plan in order. You can amend your Trust anytime as long as you are still legally competent to do so.

Financial accounts such as checking, savings and brokerage accounts as well as retirement accounts can have designated beneficiaries and designated contingent beneficiaries and avoid a California probate proceeding

The process of establishing or amending your revocable Trust is much simpler, less expensive and time efficient than you imagine.

On the other hand, if you do not have a Trust and own real property, the California statutory probate fees are surprisingly significant, e.g., $23,000 for the first million in gross assets (not net of mortgage) and up from there.

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