California has specific laws regarding wills and trusts. Pioneer Credit Solution helps families throughout California understand their options.
Wills in California
Requirements
- Must be 18 or older
- Must be of sound mind
- Must be signed by testator
- Requires two witnesses
What Wills Do
- Name beneficiaries
- Appoint executor
- Name guardians for minor children
- Specify funeral wishes
Limitations
- Goes through probate (expensive in CA)
- Becomes public record
- No incapacity planning
Trusts in California
Revocable Living Trust
- Avoids California probate
- Remains private
- Includes incapacity planning
- Can be changed anytime
Why Californians Need Trusts
California probate fees are set by law:
- 4% on first $100,000
- 3% on next $100,000
- 2% on next $800,000
- 1% on next $9 million
For a $500,000 estate, that's $13,000 in fees!
Which Do You Need?
Consider a Trust If You:
- Own real estate in California
- Have assets over $184,500
- Want to avoid probate
- Value privacy
- Want incapacity protection
A Will May Suffice If:
- You have minimal assets
- Most assets have beneficiary designations
- You're young with simple finances
Get Expert Help
Pioneer Credit Solution serves all of California. Call 1-888-271-2293 for your free consultation.