Here are the main reasons why you should avoid probate in California: It is Expensive, It is Stressful and Time-intensive, It is potentially Embarrassing and It is Out of Your Control!
Probate is the court-led process that handles an estate after death and varies based on location. In general, the process involves a court examining the provisions of a Will and the assets included or excluded in it. Probate occurs whether or not there is a Will. If you die without a Will, the court will distribute your assets according to state law. The probate process is often the last option for transferring assets when you have no other choice. It is complicated, time-consuming and stressful. Your family members, your friends, creditors and even the government can and will raise objections, ask for more than their fair share, cause confusion and delay the process. Probate entails attorney fees, as well as court fees and other costs, which can be calculated as a percentage of a total estate. This is one of the main reasons to avoid the process, as the money is deducted from the estate and thus limits what is passed on to your loved ones. There is also a waiting period which could last anywhere from two to six months in which your beneficiaries have no access to any of the funds in the estate while in probate.
Creating a Living Trust is an effective method of avoiding probate. Our firm will assist you in properly managing your assets by designing a unique plan so you can avoid the lengthy process of probate. Improper planning can leave loved ones with no funds for a long period of time. The probate process is a matter of public record where anyone will have access to your personal information including what assets were in the estate and what beneficiaries have received under probate. Some states allow online access to these records as well. Our Living Trusts protect the privacy of your estate and give your loved ones a peace of mind.
Contact First Class Counsel to find out more about the Probate process and how you and your loved ones can avoid this Expensive, Time-consuming process.