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September 18, 2006

California Probate Is A Mess.

For most individuals, opening probate in California is not a delightful or even pleasant experience. It's time consuming. It's confusing. And it's very expensive on the back end for statutory fees.

Many other states, however, have more streamlined probate procedures. Meaning probate is easier, less time consuming and less costly. Yay.

Also, other states offer beneficiary deeds for real property. A beneficiary deed allows you to slap on a payable on death beneficiary for your real estate holdings.

California does not have neither a streamlined probate process for real estate valued more than $20,000 (which is nearly any home in this state) nor beneficiary deeds. This is why in California it is very important to have your real estate holdings placed into a Living Trust if you wish to avoid probate.

For many, the goal of estate planning is probate avoidance. This makes it easy for your loved ones. It also tells them who should get what. Nice.

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