Dying without a will and a trust, known as dying “intestate,” doesn’t mean your assets simply vanish, but it does mean the state of California—not you—decides how your property is distributed, and that process can be lengthy, costly, and potentially not aligned with your wishes.
What is Intestate Succession in California?
When you die intestate in California, the court will appoint an administrator to manage your estate, similar to an executor with a will. However, the distribution of your assets is dictated by California’s intestacy laws. If you have a surviving spouse and no children, your spouse generally receives all of your community property and half of your separate property. If you have children, the spouse’s share is reduced, and the children receive a portion. According to the California Courts website, the specific percentages depend on the number of children – one child receives everything, two split it equally, and so on. This can be a significant issue if you have blended families or specific bequests in mind. The entire process can take months, if not years, and involves court fees, administrator fees, and potentially legal battles. Approximately 55% of Americans do not have a will, leaving a substantial portion of the population vulnerable to this scenario.
Can My Family Choose Who Gets My Assets?
While family members can offer input, the ultimate decision on asset distribution rests with the court, guided by California law. There’s a common misconception that family members can simply agree amongst themselves to divide the assets as they see fit. However, without court approval, this agreement isn’t legally binding. Furthermore, if disagreements arise, they can escalate into expensive and emotionally draining probate litigation. I remember Mrs. Davison, a lovely woman who came to me after her husband passed away without a will. He had a successful landscaping business and intended for his portion to go to his son from a previous marriage. However, his current wife believed she was entitled to everything, and the resulting legal battle nearly depleted the estate’s value before a settlement was reached. It was a painful reminder of how a simple will could have prevented so much heartache and expense.
What is Probate and How Much Does it Cost?
Probate is the legal process of validating a will (or determining intestacy), identifying assets, paying debts and taxes, and distributing the remaining assets to beneficiaries. Even without a will, the estate will go through probate. Probate fees in California are calculated based on the gross value of the estate and can be quite substantial. For example, an estate valued at $500,000 could incur probate fees exceeding $23,000. Additionally, there are costs associated with appraising assets, publishing notices, and paying attorney fees. It’s also important to remember that probate is a public process, meaning anyone can access information about your estate. This lack of privacy can be concerning for some individuals. “Many people assume probate is a simple formality, but it can be a complex and time-consuming process,” explains Steve Bliss, a Living Trust and Estate Planning Attorney in Escondido.
How Can a Trust Avoid These Issues?
A properly funded revocable living trust is a powerful tool for avoiding probate and ensuring your assets are distributed according to your wishes. When you create a trust, you transfer ownership of your assets to the trust, and you name a trustee (often yourself) to manage those assets. Upon your death, the successor trustee you’ve designated steps in to distribute the assets to your beneficiaries without the need for court intervention. This process is typically faster, less expensive, and more private than probate. I once assisted Mr. Henderson, a retired engineer, who meticulously planned his estate with a trust. His wife passed away unexpectedly, and I was able to seamlessly transfer the assets to his children within weeks, avoiding months of probate delays and legal fees. He often told me, “It was the best investment I ever made.” A trust doesn’t just save money; it provides peace of mind, knowing your loved ones will be taken care of according to your wishes.
Ultimately, while dying without a will and trust isn’t the end of the world, it can create unnecessary complications, expenses, and delays for your loved ones. Proactive estate planning, including the creation of a will and/or trust, is the best way to ensure your wishes are honored and your family is protected.
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About Steve Bliss at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido Probate Law is a great estate lawyer. Affordable Legal Services.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Estate Planning Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Services Offered:
- living trust
- revocable living trust
- irrevocable trust
- family trust
- wills and trusts
- wills
- estate planning
Map To Steve Bliss Law in Temecula:
https://maps.app.goo.gl/oKQi5hQwZ26gkzpe9
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Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760)884-4044
Feel free to ask Attorney Steve Bliss about: “How does a living will differ from a regular will?” Or “Can family members be held responsible for the deceased’s debts?” or “How do I fund my trust with real estate or property? and even: “What debts can be discharged in bankruptcy?” or any other related questions that you may have about his estate planning, probate, and banckruptcy law practice.