I already have a living trust, and all of my assets are in it (or will be transferred into it at my death). So I'm VERY glad for two things: (1) I will NOT be paying boatloads of probate costs and fees after my death, and (2) I don't live in California!
I have been in probate for over 2 years now. The Courts in California are super slow to get anything done costing huge amounts of money.. Just went on the 22nd and now continued till Oct.
I just got Admin papers and will receive a bank check tomorrow, can I take some or all Admin fees out at any time? Can I take them out as needed w/o going over the limit? Thanks for the great video and much more info than other channels!!
Hi there! I have a whole video where I explain how a trust avoids probate which you can watch here: ua-cam.com/video/MsRahV8VKVg/v-deo.html However, to break it down to the basics, when you have a trust, the trust continues on as a separate entity from you after you die. The trust holds title to property and will already designate who is in charge (thus who has authority to sell or transfer) the property/assets in trust. Probate court is, in essence, a court giving a person legal authority to manage assets in a deceased person's name. Since the trust holds the property and already designated who is in charge, there is no need to go to court and thus probate is avoided.
I already have a living trust, and all of my assets are in it (or will be transferred into it at my death). So I'm VERY glad for two things: (1) I will NOT be paying boatloads of probate costs and fees after my death, and (2) I don't live in California!
Good Stuff, thanks.
This can really help, I am going through it right now.
Thank you very much! Good luck!
I have been in probate for over 2 years now. The Courts in California are super slow to get anything done costing huge amounts of money.. Just went on the 22nd and now continued till Oct.
I just got Admin papers and will receive a bank check tomorrow, can I take some or all Admin fees out at any time? Can I take them out as needed w/o going over the limit? Thanks for the great video and much more info than other channels!!
I know that a living trust avoids much of the time and expense of probate proceedings, but I’m not 100% clear on how, why, or how much.
Only if the paperwork was done right. I'm going through it right now and wow is California messed up - and dirty.
Hi there! I have a whole video where I explain how a trust avoids probate which you can watch here: ua-cam.com/video/MsRahV8VKVg/v-deo.html
However, to break it down to the basics, when you have a trust, the trust continues on as a separate entity from you after you die. The trust holds title to property and will already designate who is in charge (thus who has authority to sell or transfer) the property/assets in trust. Probate court is, in essence, a court giving a person legal authority to manage assets in a deceased person's name. Since the trust holds the property and already designated who is in charge, there is no need to go to court and thus probate is avoided.
My gosh that is way too much to do and pay for😏
Sorry being opinionated BUT that’s called BLOOD SUCKING Out of the Hard working People 😢
WTF!