Why Do An Estate Plan Now?
Most People Complete Estate Plans With Living Trusts For Three (3) Reasons:
What Is Probate?
Probate involves publishing notices to creditors, appraisals, court hearings, filing numerous forms and other paperwork, and can last from six (6) months to over two (2) years. Although there will be some costs involved with administering your Living Trust when you pass on, the costs are minimal compared to probate fees.
How Much Are Probate Costs?
California probate fees are statutory maximums and start at 4% of the value of the estate, gradually decreasing to ½ of 1% for very large estates. Probate fees cover the range of legal services required to close out a person's estate when they die without a Living Trust.
Benefits To Creating An Estate Plan Now
The benefits to creating an estate plan now are that you may save your
family thousands of dollars after your death, your family will be spared
the additional stress of having to go through probate when they are grieving,
and you can be at peace knowing you took care of your affairs and your
family exactly the way you wanted.
Dess A. Benedetto