Probate is an expensive and time consuming court proceeding that can usually be avoided with some simple advance planning. The most common method used to avoid probate is to hold assets in “joint tenancy.” An example of this would be husband and wife owning a house and both names appearing on the deed with the […]
Probate
Why do I need to go through probate?
Q: Dad died two years ago. Mom just died. Her will left the house to me. Why do I need to go to court? A: Unfortunately, things are never quite as simple as they seem. If you try to sell the house, the records at the County Recorder’s office don’t show you as the owner. Even if […]
Protect Yourself with Insurance Against Uninsured and Underinsured Motorists
When planning your estate, have you considered how much insurance you carry, or even more importantly how much insurance do you carry for under or uninsured motorists? I recently had a case where one of my own expert witnesses had a family member involved in a horrible crash. He stood to lose everything he owned […]
Putting off taking care of your affairs is very costly
Just had two clients contact me with mothers on their death beds. In one case the woman was still able to think rationally, make decisions, and sign documents. I was able to do a trust for her which saved her family thousands of dollars in probate fees, when she died a few weeks later. In […]
Life Insurance Trusts – Tax Free Money
You can take advantage of the annual $14,000 federal estate gift tax exemption (this number is indexed for inflation and is subject to change every year) by having your California probate and trust attorney help you set up what is called a “crummy trust” or irrevocable trust. An irrevocable trust is set up to buy […]
The California Small Estate Exemption has been Raised to $150,000
California Probate Code Section 13100 -13116 allows estates of persons who died after Jan 1, 2012, with assets valued at $150,000 or less to avoid a formal probate process. Beneficiaries and heirs are able to receive their inheritances quicker and with much lower expense. The $150,000 does not include anything that passes to your heirs […]
What are probate family allowances?
When a person who dies in California owning owned assets in their sole name at the time of the person’s death, the decedent’s heirs usually have to go through the California courts in a “probate proceeding,” to claim their loved one’s worldly goods. Sometimes it is necessary for the family to ask the court to […]
Settling a trust costs less than going through probate in California
Wow! It’s So Much Less Expensive to Settle a Trust than to go through Probate in California A fully funded trust, with no issues and no formal accounting, can be settled for less than $1,000 in attorney fees when you die. That’s a huge contrast to the attorney fees to go through probate in California. […]
Using a Revocable Living Trust to Avoid Probate
There are several ways to avoid probate, but most methods have pitfalls; the revocable living trust is usually your best bet to avoid pitfalls and totally avoids probate, when fully funded. If you want to avoid probate, call our office for a consultation. The Key to Avoiding Probate with Trust-Based Planning The absolute key to […]
California’s No-Contest Clause and Disgruntled Heirs
In 2010, California’s no-contest clause probate code provisions were amended, limiting the enforceability of no-contest clause provisions. No-contest clauses have been used to discourage unhappy relatives, girl/boy friends, second spouses, and others from challenging a will (or trust.) If a challenge is brought, the heir stands to lose any inheritance he or she would have […]