We don’t know what the future holds for us, but we can be prepared and take the best care possible of our loved ones in the event of unexpected incapacitation or death.
Estate Planning is something we probably put off as something to be done later. Please look over this summary of Trusts and Probates and see if it is something you might consider taking care of, sooner than later.
When it comes to estate planning, most of us make the mistake as a homeowner is keeping our property titled in our personal names. In California, this choice can trigger a lengthy and expensive probate process after death—one that can easily be avoided by placing the property in a living trust.
Probate
When one passes on, probate is the default legal process through which the court validates a will (if one exists) and oversees the distribution of the deceased person’s assets. In California, probate can take months—or even years—and often costs between 4% and 7% of the estate’s total value in court fees, attorney costs, and administrative expenses!
How a Trust can help
When your home is placed in a revocable living trust, you control the property during your lifetime. But legally, the trust—not you personally—owns the asset. This simple change has several major advantages:
- Avoids probate: The property can be transferred directly to your chosen beneficiaries without court involvement.
- Saves time and money: Your heirs bypass court delays and costs; most times receiving property within weeks rather than months or years.
- Maintains privacy: Unlike probate, which becomes public record, trust assets pass privately.
- Ensures continuity: If you become incapacitated, your successor trustee can manage or sell the property on your behalf without court intervention.
A Smart Step for California Homeowners
Because of the state’s high property values, even our modest homes often exceed probate’s small-estate thresholds. That means nearly every homeowner should consider a living trust as part of their estate plan. It’s a straightforward way to protect your family from unnecessary legal hurdles and preserve the value of your home for your loved ones.
While an attorney or estate planner should always guide the setup process, transferring your property into a living trust is one of the most effective ways to ensure a smooth, stress-free transition for your heirs—and peace of mind for you.
