Semanchik Law Group is a law firm that focuses on nonprofit law, business law, estate planning, and general counsel services. The firm is based in San Diego, California.
Did you know in California if you own assets over $150,000 in your individual name, your estate is likely to be probated? This means that after you die, your beneficiaries will have to go to court in order to get your assets. A trip to the courthouse isn’t exactly the most generous of parting gifts. To make matters worse, the probate process can take over a year. That means your loved ones will be left settling your affairs long after you have passed. Probate is also public so plan on everyone knowing exactly what you have and who its going to. How can this be avoided? With a living trust. Having a will is just not enough to avoid probate. A will can help decide who gets your assets but it wont achieve the goal of avoiding probate, for that you will need a living trust.