Probate vs. trust: which is right for your estate?
Comparing the Pros and Cons of Probate and Trusts for Your Estate Planning Needs Estate planning is an important part of ensuring that your assets
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At Laguna Legal, we offer Los Angeles probate services including the filing of necessary paperwork and serving of interested parties. We are not Los Angeles probate attorneys, this means you will save thousands in lawyer fees. You will need to represent yourself in probate court, which is not difficult when all your documents are in order.
Probate is the judicial process through which a person’s assets are distributed after they die. Unfortunately, the process can be a lengthy one, taking years and costing thousands of dollars in legal fees, especially if you work with a Probate law firm in Los Angeles. At Laguna Legal, we can save you time and money by handling your Los Angeles probate process.
On average, it takes approximately 12 months to complete the probate process in Los Angeles. Our services include managing the drafting and submission of the Petition for Probate, notifying beneficiaries, facilitating required publications, collaborating with your probate referee, and finalizing the process by presenting a comprehensive financial report to the court. Typically, if any real estate is involved, it can be sold within 3-4 months from the date of submitting the initial petition.
To bypass the probate process in Los Angeles, setting up a Living Trust is an effective solution. At Laguna Legal, we can aid you in drafting and transferring the ownership of your property to your trust’s name to evade probate. Our flat rate of $950 provides a complete estate plan for individuals, which includes essential documents like a Revocable Living Trust, Certification of Trust, Pour-Over Will, Durable Power of Attorney, and Healthcare Directive.
In the event of an individual’s demise, with or without a will, their property can be allocated to their heirs via a legal procedure called “Probate.” If your family member passes away while owning real estate, regardless of its value, or other assets exceeding $166,250, and those assets are not registered in a living trust, then filing for probate in the Los Angeles probate court is necessary to authorize the allocation of the assets.
In Los Angeles, California, if you pass away with assets like real estate (irrespective of value) or bank and investment accounts valued over $166,250, probate becomes a necessity. Financial institution accounts valued below $166,250 can generally be accessed through a Small Estate Affidavit. If necessary, Laguna Legal can support you in creating a Small Estate Affidavit, or aid you in preparing and submitting the entire probate. It is crucial to note that since we are a legal document service and not attorneys, you must represent yourself at the required hearings. However, we can assist you in drafting and submitting all required court documents.
In the unfortunate event of a loved one’s demise in Los Angeles, if they own real estate or other assets worth more than $166,250, and those assets are not titled in a living trust, then it becomes necessary to file for probate with the court to allocate the assets. Neglecting to file probate in Los Angeles could result in the assets being foreclosed (if there is a loan or tax lien), or the government taking possession of the assets.
Typically, the probate process in Los Angeles takes approximately a year to complete. Our services include managing the preparation and submission of the Petition for Probate, notifying all beneficiaries, arranging necessary publications, collaborating with your probate referee, and finalizing the process by presenting a comprehensive financial report to the court. Generally, any real estate involved in the proceedings can be sold within 3-4 months from the date of submitting the initial petition.
Real estate (regardless of value) and bank and investment accounts worth more than $166,250 are among the assets subject to probate in Los Angeles. Financial institution accounts valued below $166,250 can usually be accessed using a Small Estate Affidavit. Laguna Legal can provide assistance in drafting a Small Estate Affidavit if required, or we can assist you in creating and submitting the complete probate. It is important to note that since we are a legal document service and not attorneys, you must represent yourself at the required hearings. However, we can assist you in preparing and submitting all necessary court documents.
Learn more about how we can help you to prepare and file the necessary probate paperwork, as well as notify interested parties.
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We’ve been providing Southern California with Excellent Legal Document and Divorce Mediation services since 1998.
We service the following counties: Orange, Los Angeles, San Bernardino, Riverside, San Diego, San Luis Obispo, Kern, Santa Barbara, Ventura and Imperial.
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Laguna Legal Headquarters
24800 Chrisanta Drive, Suite 200
Mission Viejo, CA 92691
Phone:
800-497-9850
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949-497-9877
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team@lagunalegalhelp.com
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Bonded and Certified Legal Document Assistant, LDA #267. We are not attorneys and cannot give legal advice. A Legal Document Assistant provides only self help service to a member of the public who is representing him/her self in a legal matter. We are, however, very experienced and knowledgeable in preparation of living trusts, deeds and other legal documents including divorce mediation. We work closely with several attorneys who can give you the legal advice you need.
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