In California, probate court is required to transfer assets if your estate includes real property, or non-real property assets exceeding $150,000. Probate does NOT affect assets in a Living Trust, or those with proper beneficiary designations. If you own a home in California, you should use a Living Trust if you care about your heirs.
If you have beneficiaries designated on any assets, be sure to be extremely careful about naming the correct beneficiaries! For example, young or disabled children make poor beneficiaries, but a Living Trust set up for them makes a perfect beneficiary.
In California, probate court is required to transfer assets if your estate includes real property, or non-real property assets exceeding $150,000. Probate does NOT affect assets in a Living Trust, or those with proper beneficiary designations. If you own a home in California, you should use a Living Trust if you care about your heirs.
If you have beneficiaries designated on any assets, be sure to be extremely careful about naming the correct beneficiaries! For example, young or disabled children make poor beneficiaries, but a Living Trust set up for them makes a perfect beneficiary.
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