Trust-based plans can be a significant step to avoiding probate
Beverly Hills, CA -- (ReleaseWire) -- 11/19/2020 -- In California, one of the primary goals in many Estate plans is avoiding the need for probate, a process where the validity of a will is reviewed. To avoid this scenario, the Beverly-Hills based legal team at Kushner Legal recommend trust-based estate plans. For more, go to https://kushnerlegal.com/benefits-of-avoiding-probate/.
Probate can be an expensive and time-consuming process. Trust-based Estate plans work to avoid the need for probate. This is a significant advantage in favour of trust based plans instead of wills-based plans.
There are three key benefits to avoiding probate
If an estate is required to go through the probate process, the proceedings will be handled in a public, court-supervised probate process. Using a trust-based plan can help to ensure that your assets are not subject to public scrutiny.
The California probate code stipulates that notice must be given during a probate process to potential heirs. This can be problematic in circumstances where a deceased person may not wish to provide for their blood relatives, or in the case of an estrangement and raises the potential for a will contest.
The probate process can be costly. All estates that are valued more than $150,000 which are not administered through a trust or beneficiary designation will be subject to probate and the Estate will be required to pay both fees to the personal representative and the attorney handling the probate. California law stipulates the amount that attorneys may charge and estate worth $1,000,000 would incur $23,000 in legal fees just for the probate. This does not include the sum payable to the personal representative.
Trust & Estate Attorney in Los Angeles – Kushner Legal
In summary, it is generally advisable to try to avoid probate, and trust-based estate planning is recommended for this purpose. Contact Kushner Legal today to discuss your estate planning needs.
About The Kushner Legal team
The Kushner Legal team in California was founded on the principle that a small law firm should be able to offer the same level of legal advice as a big firm at an affordable cost. A unique combination of legal experience and creativity allows the professionals at Kushner to come up with creative and practical solutions for a variety of legal problems.
For additional information, please visit https://kushnerlegal.com/ or call 310-279-5166.
Kushner Law Group
Company website: https://kushnerlegal.com/
433 N. Camden Drive, 4th Floor, Beverly Hills, CA 90210
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