why to avoid probate by steven f schroeder probate and estate planning attorney orange county
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Here are the top 3 reasons why you want to avoid having your estate go into Probate! If you are in need of a probate attorney in Orange County then contact: Law Office of Steven F. Schroeder 2107 N. Broadway, Ste. 204 Santa Ana, CA 92706 Steven F. Schroeder has been recognized as the #1 Estate Planning and Probate Attorney in Orange County, by Orange Coast Magazine.TRANSCRIPT
Top 3 Reasons to Setup a Revocable TrustBy Steven F. Schroder 2107 N. Broadway, Ste. 204Santa Ana, CA 92706(714)[email protected]
Estate Planning Attorney, Orange CountyProbate Attorney, Orange County
1. Probate Avoidance
Probate is a court process which involves collecting a decedent's assets, notifying creditors, paying liabilities, and distributing the remaining assets to heirs.
In California the time needed to probate a decedents estate can be anywhere between 1 to 2 years.
Moreover, probate can be quite expenses.
Estate Planning Attorney, Orange CountyProbate Attorney, Orange County
2. Privacy
Probate is a PUBLIC proceeding.
Entering into Probate allows ANYONE to learn the name, address and age of all beneficiaries;
By establishing a revocable living trust you keep all this information private
Estate Planning Attorney, Orange CountyProbate Attorney, Orange County
3. Control
The revocable living trust is a contract that you enter into which contains your instructions for managing your assets, and the use of those assets in the event of your death or incapacity.
Should you not be able to manage the trust yourself a person whom you appoint will step into your shoes to manage the trust.
The successor trustee is under a fiduciary obligation to carry out your wishes as outlined in your trust.
Estate Planning Attorney, Orange CountyProbate Attorney, Orange County