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STATE PLANNING IN CALIFORNIA
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PAY ONLY $550.00 FOR YOUR LIVING TRUST NO MATTER HOW BIG IS YOUR STATE.
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In California, your estate will be probated if your estate gross valued upon death exceeds $100,000 or you own real property valued in excess of $25,000. Furthermore, if you own property in more than one state, a probate proceeding is required in each state. A Living will Avoid Probate.
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WHAT IS PROBATE?
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Probate is the court supervised administration of your affairs. Probate comes from the Latin word;to prove. A will must be presented to the probate court and proven to be a valid Document. The probate process includes establishing clear title to your assets, allowing creditors to collect any debts they claim you may owe, and the final distribution of your Remaining estate according to your will (if any money is left).
All of this procedure requires money, such as
Attorneys Fees
Probate Fees
Administration Fees
Appraisal Fees
plus a substantial waiting period
impounded accounts
mail and or safety deposit box.
An unexpected nightmare for your Loves
Ones.
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WHAT IS A REVOCABLE LIVING TRUST?
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Basically, a Living Trust is nothing more than a legal entity that is created to hold title or ownership to your property. You transfer the title of your property from yourself, individually, to your Living Trust without relinquishing control of the property.
A Living Trust will avoid all probate and administrative costs (avg.of 10% of your gross estate). It will allow quick distribution of your assets to your heirs in one to three weeks. Prevents conservatorship or guardianship if you become incompetent avoiding court procedure and legal fees (apx. $5,000). Easy to set up and maintain. Avoids contestability.
I HAVE A WILL, DO I STILL NEED TO HAVE A REVOCABLE LIVING TRUST?
A Will does not avoid probate.
A Will does not protect you in the event of mental incapacity.
A Will does not give you the control you think it does.
A will is simply an expression of your wishes.
A Will is an engraved invitation to probate court.
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