estate planning attorney long beach ca
long beach ca estate planning attorney
Title: Get an Estate Planning Attorney Long Beach CA and avoid the nightmares of Probate
An Estate Planning Attorney Long Beach CA gives some insight as to why you would absolutely want to avoid Probate if you could and why you do should do everything you possibly can to do a Living Trust, rather than go to Probate.
Probate avoidance can be desirable in California for several reasons states a Long Beach CA Estate Planning Attorney. Notably, formal court-supervised administration of a decedent’s estate tends to be slow and expensive. An Estate Planning Attorney Long Beach CA states not only is it slow and expensive, but generally, people do not like to go to Court if it can be avoided. As a practical matter, the minimum period for a probate proceeding is 6 months. However, a Long Beach CA Estate Planning Attorney states this is after the actual court battle begins and the reality is that it would take an Estate Planning Attorney Long Beach CA much longer to move through the system.
Costs include court filing fees, probate referee appraiser fees, the personal representative’s commission (unless waived), and attorney fees that are usually established by a statutory fee schedule that, depending on the circumstances, may not be fair to the estate or the attorney. As a general rule, states a Long Beach CA Estate Planning Attorney, it is highly unlikely that if you are not an attorney that you will try to start, argue and go forward with a Probate proceeding. You would have to hire a Los Angeles Estate Planning Attorney to help. In actuality, you would also have to hire an Estate Planning Attorney Long Beach CA to prepare a Living Trust, but that is far less expensive and by doing so, it would in all reality, avoid probate.
The Long Beach CA Estate Planning Attorney says that a revocable trust can sometimes be administered fairly quickly and at a nominal cost if, e.g., the trust has few assets, no tax problems, and a trustee who is also the sole beneficiary. Of course, an Estate Planning Attorney Long Beach CA can also prepare the Living Trust with multiple assets, dual or more co-trustees and numerous beneficiaries. Long Beach CA Estate Planning Attorney states that while a bigger estate takes a longer time to prepare, it is exponentially longer in Probate.
Long Beach CA Estate Planning Attorney states that another potential benefit of avoiding probate is to maintain family privacy. The court file of a probate proceeding discloses extensive information about a decedent’s assets, debts, and disposition of the assets. The court file is a public record, easily viewed by anyone willing to go to the court clerk’s office and make a request. In contrast, information in a revocable trust can be kept confidential as long as the beneficiaries and next of kin cooperate. In fact, a Certification of Trust can be made, which the Estate Planning Attorney Long Beach CA states is a summation of some of the provisions of the Living Trust, but it by no means discloses what beneficiary will get what asset, etc.
Although there are other probate-avoiding devices, few are well suited to the task of providing for a coordinated disposition of all of a decedent’s property. For example, it is extremely difficult to use joint tenancies to equally distribute all of a client’s property among multiple beneficiaries and also provide for distributions to alternate beneficiaries states a Long Beach CA Estate Planning Attorney. Still, revocable trusts are not appropriate in all situations, and planners have a duty to consider appropriate options. However, if you can do an Estate Planning Attorney Long Beach CA confirms it is much more desirable than going into Probate.