An estate plan is not just for the wealthy. A well-prepared estate plan provides a variety of benefits, which include:
California is one of the few states to have statutory probate fees. The fees a decedent’s family will lose in probate court is set by the code. Let’s look at a typical, middle-income family. If they have the house, a few cars, the normal personal property and financial accounts; let’s assume their gross worth is $800,000. If this estate is probated, the family will pay nearly $20,000 in probate fees. If properly set up, a trust will avoid all probate fees – thus, saving the family all this money.
An estate plan is not just for the wealthy. A well-prepared estate plan provides a variety of benefits, which include: A significant savings by avoiding
This is a very common statement made to estate planning attorneys. Many people will say the most significant asset they have is their home. By