In California, trusts are commonly used as estate planning tools not only to avoid probate but also to reduce or eliminate certain taxes. While trusts do not automatically eliminate all tax obligations, they can be structured strategically to minimize estate taxes, capital gains, and income taxes. The key lies in understanding how assets are transferred,…
In California, choosing between a will and a trust depends on your personal goals, family situation, and the complexity of your assets. Both documents serve as important estate planning tools, but they function differently. A will provides instructions on how property should be distributed after death, while a trust offers greater control, privacy, and probate…
In California, a trust generally overrides a will when it comes to the distribution of assets. A revocable living trust, once funded with property, dictates how those assets will be handled after the grantor’s death. The probate court does not have authority over trust assets, meaning the instructions outlined in the trust take priority. By…
In California, probating a will is the legal process of validating the document and ensuring that the decedent’s estate is distributed in accordance with state law. Probate serves as the court’s oversight mechanism, confirming that the will is genuine, that debts and taxes are properly settled, and that heirs receive their rightful inheritance. Without probate,…
In California, keeping the original copy of a will is a critical step in estate planning, as the probate court requires the original document to validate and administer the estate. Photocopies or digital versions are generally not accepted unless the original can be explained as lost or destroyed, which can lead to costly delays and…
In California, probate is initiated when someone files a petition with the Superior Court in the county where the decedent lived at the time of death. This filing begins the formal legal process of settling the estate. The person who takes the responsibility of filing the petition is often the executor named in the will….