Under California law, even with a will, if a person dies holding title to over $100,000.00 in assets, the estate must be probated. A living trust avoids the time and expense of probate. Probate takes at least seven months to complete and probate fees are based on a percentage of the gross value of the decedent’s estate. A trust can also avoid the need for a conservator ship which can be restrictive, time-consuming and costly. In order for your trust to be effective, your assets are placed in the name of the trust. Contact the Law Office of Bowman & Associates, APC so we can assist you with this important transfer process.
A revocable trust is the most commonly used form of trust as it allows provisions to be altered or cancelled dependent on the grantor. During the life of the trust, any earned income will be distributed to the grantor, however upon death, the property transfers to the designated beneficiaries.
At The Law Offices of Bowman and Associates we recommend you keep a copy of all estate planning documents in a locked safe, and ensure that the beneficiary at least know where they are located, but that the documents are secured in a fire-proof safe.
Our knowledgeable staff are here to assist you in a time of need. Our attorneys are experienced and have a sense of care and concern when it comes to our clients. Customer satisfaction is our largest goal, and we strive to provide the highest level of service at all times. Contact us today for your free consultation.