A caller recently asked me to review his new Will, which he had created using an online service.
I asked a few simple questions. “What are your assets?”
He replied, “My house and an apartment building.”
That’s when I had to break the news: his estate would go through Probate. Because a Will does not avoid court, his family would face long delays and expensive fees. Under California’s statutory probate fee structure, both the attorney and the executor are entitled to fees based on the gross value of the estate:
-4% of the first $100,000
-3% of the second $100,000
-2% up to $1 million
-1% above that
In his case, these fees could be tens of thousands of dollars. I told him candidly, “If you don’t create a Trust, I’d love to be the one to handle your probate. But if you want to save your family time and money, a Trust is the right way to go.”
Trusts Save Time, Money, and Stress
I explained that a properly prepared and funded Trust avoids probate altogether. It also allows assets to be distributed in as little as 6 to 12 months, while probate cases often drag on for 18 months or longer.
The caller is now setting up his design meeting and getting his affairs in order.
Bottom Line: If You Own Property, You Need a Trust
Wills are important—but they only go into effect when you pass away, and if you have assets, your loved ones will still need to go through Probate.
If you want to protect your family from delays, costs, and court battles, give me a call. Let’s build a plan that works.
