California is bright and beautiful, and it’s no wonder why so many people choose to live her. However, for individuals with significant resources, or even just an owned home, the probate process can significantly drain the value of their estate if they do not or cannot build provisions to avoid it.
Here in the Golden State, estates that exceed a fairly low threshold (recently as low as $150,000) must pass through probate if they do not have protections in place ahead of time. As anyone who has looked at real estate anywhere in California can tell you, virtually no one who owns property here sits beneath that threshold.
If you anticipate your own estate passing through probate, you must take action now if you hope to preserve your assets for those you care about or causes that you support, otherwise you may be merely “supporting” the state’s seizure and draining of your assets upon your death. This may include a number of different estate planning tools depending on your circumstances, such as specific kinds of trusts, but no estate plan is ever effective until you actually begin building it.
Don’t keep yourself on the sidelines when it comes to protecting your assets from the drain of probate. Make sure that you use excellent legal resources as you explore your options, to ensure that you don’t misunderstand the specifics of your plan and that you get the most out of your estate plan and probate circumvention tools. A strong estate plan begins today for any person, no matter their age, lifestyle or the size of the estate. Protect yourself and the ones you love from the draining power of probate with a strong estate plan today.