When grieving the loss of a loved one, legal details can become overwhelming. Developing an estate plan in advance is the way to avoid saddling loved ones with the legal work required to close out your estate. How to avoid probate in California has a single answer: Estate planning done in advance with an experienced probate lawyer.

When Avoiding Probate Makes Sense

Probate is a legal process necessary for distributing assets when a person dies. Some of the reasons people try to avoid going through probate include: 

• It can be a lengthy and uncertain process
• Involves costs for court, executor, and attorney fees
• Lengthens the time from death to assets reaching beneficiaries
• The details become public records for a probate case

For large estates with high-value assets, probate can take years, especially if there is one or more will disputes. Probate is expensive in California due to the statutory fees required for attorneys and personal representatives. In addition, there are fees for the initial filing for probate, along with publication fees, appraisals, or investigations to counter disputes. Finally, if privacy is important to you or your estate, probate is a public record.

Consider using other legal alternatives for estate planning when you have an estate with real estate valued at over $750,000 or personal property valued at over $208,850. Additionally, avoid the probate process if you want to keep how your estate is divided private. Avoiding probate also reduces the time it takes for your beneficiaries to receive their share of what you have intended for them.

Legally Skip Probate in California

One way to skip probate is to have a small estate with personal or real estate property worth less than the latest California probate values. California residents can use the Summary Succession process to speed up the probate process by not having to go through the full process.

Another option is to accumulate assets in retirement accounts such as IRAs, 401(k)s, or pension funds and designate beneficiaries. The same can be done for life insurance policies, investment accounts, savings, CDs, and bank accounts. Bank accounts can also be made into Pay on Death (POD) accounts.

Real estate property owners may consider naming joint tenants on the deed. However, be aware that once a person is added to a deed, they become a part-owner of the property. Creditors can add liens to your home, and you would need the permission of all owners before selling.

Surprisingly, nationwide statistics show that only 24% of Americans have a will, 13% have a trust, and 56% do not have either, with no plan at all to distribute assets after death. Probate exists to distribute assets for people who don’t leave a will or trust, or when a will needs to be validated or is disputed. Trusts are gaining in popularity, but the initial expense is high for complex estates.

A better option to avoid probate is to hire a probate lawyer to create a revocable or living trust. A revocable trust allows you to control your assets during your lifetime and put a trustee in charge of distributing assets after your death. A trust can include real estate property, bank accounts, personal property, retirement accounts, investments, and vehicles. Living trusts are exempt from probate.

Why Hire a Probate Lawyer?

Hire a probate lawyer with experience in California probate laws. Legal guidance is essential to ensure you understand the full implications of how you title assets or what assets are included in a revocable or living trust.

The highly qualified and experienced probate attorney, Paul V.L. Campo, has a reputation for thoughtful, client-focused advocacy across California. He can guide you through creating an estate plan that legally avoids probate. With over 30 years of experience, you can trust your legacy with Paul V.L. Campo Attorney at Law.

FAQs

Q: Can A Will Avoid Probate in California?

A: No, having a will alone does not avoid the full probate process in California. The probate process legally validates the transfer of property from an estate to beneficiaries and heirs as indicated in your will. In California, if your estate’s personal property value is under $208,850, you can avoid the full probate process. The same applies to an estate where the main home is worth up to $750,000.

Q: What Assets Are Exempt From Probate in California?

A: Assets that are exempt from probate in California include retirement accounts like IRAs, 401 (k) s, and pension funds. Life insurance policies also avoid probate and pass to the named beneficiaries. Other types of assets exempt from probate are bank accounts, stocks, and bonds when they have Payable on Death (POD) or Transfer on Death (TOD) designation. Real estate held in joint tenancy is exempt, as are assets held in living trusts.

Q: Will Banks Release Money Without Probate in California?

A: Yes, banks will release money without completing the probate process in California when the account has a POD or TOD agreement with a named beneficiary. The named beneficiary would need to present the death certificate and legal ID to access funds. Accounts that have joint ownership transfer to the surviving joint owner.

Q: What Happens if You Avoid Probating a Will in California?

A: There are several things that can happen when you fail to probate a will in California that doesn’t qualify for avoiding probate. The assets will become frozen and inaccessible to family members. Debts will continue to accumulate, potentially decreasing the worth of the estate. If you are the executor of the will and have accepted the role, prolonged inaction can lead to liability for damages to beneficiaries or sanctions by the court.

Why Choose Paul V.L. Campo Attorney at Law?

Paul V.L. Campo Attorney at Law, offers clients legal guidance with more than three decades of experience in California law. Paul helps his estate planning clients create the legal documents necessary to protect their assets after death. Deciding on a living trust or a will depends on the complexity and value of an estate. Contact us, and we can determine the optimal options for your needs.