Creating an estate plan will make sure you and your loved ones are taken care of in case you become incapacitated or die. For larger estates, your estate plan should include a living trust and pour over will to avoid probate. Fortunately, there are many solutions to make a simple estate plan without a lawyer. Read on to learn more.
No one wants to pay for estate planning. Putting together your estate plan can be expensive, and odds are no one will see the benefits of that pricey estate plan for years. Using an attorney, a person can expect to pay between $1,500 and $3,000 for a basic estate plan package. For more complicated estates, putting together your estate planning can cost over $4,000. While estate planning can be expensive, there are ways to minimize the cost such as using a legal document preparer.
A lot of people don't understand the difference between a will and trust. A will is a legal document which directs who will receive your property upon your death. In comparison, a living trust is a legal document which can also give instructions on how to distribute your property upon your death. With this in mind, however, a key difference between a will and trust is that a trust can also be used to distribute property before someone passes.
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Most Executors have a hard time giving up possession of a decedent's original will. However, by law, the custodian of an original will must lodge the will with the Superior Court within 30 days of learning of the testator’s death. This is a statutory requirement under California Probate Code Section 8200. Keep in mind, the custodian can face legal penalties if they do not lodge a will in a timely fashion.
The process to set up a living trust in California is relatively straightforward and most people can do it themselves without having to hire a lawyer. To set up a living trust, you will need to know how you want to distribute your estate when you pass away. A People’s Choice can help you set up a living trust for a fraction of what it would cost to work with an attorney.
We all work hard during life and hope we'll be able to pass an inheritance to our children. California probate is expensive and time-consuming, taking between 8-12 months to complete. Here are the three best ways to avoid probate in California and to make sure your beneficiaries receive the most of your estate.
You can prepare your own estate planning documents without hiring an attorney. Contrary to popular belief, estate planning does not have to be difficult. Once you understand common estate planning documents, you will be able to choose which documents work best for your family. Here is a list of estate planning documents you should consider.
The steps for filing probate in California can be overwhelming. For example, the process can take 8-10 months. One of the steps for filing probate in California includes identifying and valuing all assets. For low-cost, non-attorney help with the steps to file probate in California, contact A People’s Choice today.
Use California simplified probate procedures to transfer real property valued under $150,000, and bypass expensive probate. California simplified probate procedures can be used to transfer personal property as well as real property and can be completed within 1-2 months. Make sure you know your probate options!