Tenant & Housing Rights
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WHY YOU NEED A TRUST!
KEEP HEIRS & YOUR
MONEY OUT OF COURT
HAVE A SPECIAL
MENTALLY ILL OR
DISTRIBUTE ASSETS TO HIERS
PROTECT YOUR HOME
YOU HAVE A LIFE PARTNER
YOU HAD A
What is a TRUST ?
A Trust, like a Will, is a legal document you create to tell your family how to handle your estate after you pass away.
Why do I need a TRUST ?
If you live in California and your estate is worth $166,250 or more (including equity in your property), you MUST have a trust in order for your hiers to avoid probate proceedings (going to court) should you pass away! A trust allows you to pass money and property to your heirs without having to hire an attorney and go to court.
Go through the list below. If you need just 'one' of the items, then you need a Trust in addition to your will.
Everything you own is worth more then $166,250
You own Real estate in California
Want money managed for pets
Have a child with a physical or mental disability
Have step children
Have Multiple Marriages
Have a business
Plan to leave money to someone other then a relative
Have a mean or spiteful relative
Have a life partner
Want to disburse money over time
What happens if I only have a will and I own more then $166,250?
If you have a will, but not a trust and have more then $166,250 in total assets, your belongings cannot be given to your heirs until your estate goes through Probate. Probate can be expensive and can take months or even years to complete.
What exactly is Probate?
Probate requires by law that your will’s executor, or a court appointed administer, will:
collect all your assets
pay the debts and expenses
lastly, distribute the remainder of the estate to the individuals you have named in your will
A Probate case can take between 9 months to 1 ½ years and cost tens of thousands of dollars that could have gone to your heirs.