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Wills and Trusts in California: What You Need to Know

2024-11-228 min read
California has specific laws regarding wills and trusts. Pioneer Credit Solution helps families throughout California understand their options. ## Wills in California ### Requirements - Must be 18 or older - Must be of sound mind - Must be signed by testator - Requires two witnesses ### What Wills Do - Name beneficiaries - Appoint executor - Name guardians for minor children - Specify funeral wishes ### Limitations - Goes through probate (expensive in CA) - Becomes public record - No incapacity planning ## Trusts in California ### Revocable Living Trust - Avoids California probate - Remains private - Includes incapacity planning - Can be changed anytime ### Why Californians Need Trusts California probate fees are set by law: - 4% on first $100,000 - 3% on next $100,000 - 2% on next $800,000 - 1% on next $9 million For a $500,000 estate, that's $13,000 in fees! ## Which Do You Need? ### Consider a Trust If You: - Own real estate in California - Have assets over $184,500 - Want to avoid probate - Value privacy - Want incapacity protection ### A Will May Suffice If: - You have minimal assets - Most assets have beneficiary designations - You're young with simple finances ## Get Expert Help Pioneer Credit Solution serves all of California. Call 1-888-271-2293 for your free consultation.

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