Options on Estate Planning – Law Approach
 

Options on Estate Planning

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Probate Attorney

Attorney Steven F. Bliss

You have options when planning your estate. You are not needed to apply a last will to direct the distribution of your assets after your passing. Tools like revocable living trusts are practical alternatives and they are not entirely for the rich. Your estate must be probated when you use a last will as your main asset transfer vehicle. Probate goes with considerable fees. Depending on the overall value of your estate and its relative complexity, the fees associate with probate can erode 10% of the worth of your estate in court and attorney fees. In addition to the costs, probate can be a long and time-consuming process. If your estate must go through probate, your heirs do not get anything until the probate procedure has been concluded, and depending on the jurisdiction this can take few months or even years! If you were to apply a revocable living trust, upon your passing your assets could be passed on to your loved ones fast and outside of the expensive and time-consuming probate procedure. Furthermore, a living trust permits you to involve guidelines concerning your desires as to how you want your estate managed in the event you end up being incapacitated. You are not closed into any one certain course of action when you are shaping plans for the future. To discover your choices, take a moment to set up for a helpful consultation with a qualified Fallbrook probate attorney.


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