Legal Question in Wills and Trusts in California

Re: estate amount requiring probate

The amount is $100,000, but excludes assets held in joint tenancy, with beneficiary designations (like life insurance, annuities and retirement plans) or in trust, among some others. If you're looking to avoid probate, a living trust is probably a better way than joint tenancy or beneficiary designations.

The $100,000 is gross value, not net, so the $100,000 limit applies even if you have debts/liens mortgages that lower your net asset value.

Re: estate amount requiring probate

Assets in excess of $100,000 which are not held in trust, joint tenancy or beneficiary accounts (i.e. life insurance), or any real property not held in the above-described manner.

Re: estate amount requiring probate

Generally, more than $100,000 in assets will require probate.

If you own a house worth $300,000, and it is in your name only, in order to change the title, the estate would need to be probated, even if you owe $250K on it.

Re: estate amount requiring probate

It has nothing to do with the amount. It is the nature of how you have your funds, property and all assets held at the time of year passing. If you have a will everything will be probated. If do you have a trust agreement with the correct wording it can be taxed beneficial to you as well as save you thousands of dollars and not having to probate you're assets. That means that you save attorneys fees, executory fees and it is not publicized in any way. Substantially totally private. I think you need a great deal of advice so that you can plan your estate properly no matter how much in value it consists.I have been practicing law in this legal area for over 30 years and understand your problem well. I practice in the S.F. Bay Area and if you wish to contact me call at 925-945-6000.