Legal Question in Wills and Trusts in California
need for trusts
Is there any significant benefit to forming a trust? We have a will, a living will, power of atty. and health care proxy. My mother's lawyer in New York says they are an unnecessary expense. What about in Califfornia?
4 Answers from Attorneys
Re: need for trusts
A trust can save many tens of thousands, or hundreds of thousands in probate, and years of time and other issues. It depends on the particular persons situation.
Re: need for trusts
In New York, probate fees are considerably less than they are in California, where probate lawyers consider the work manna from heaven.
Probate lawyers charge what is scheduled by the code. If you want to see the actual fees, you can refer to a recent blog entry on my website. In short, it isn't cheap, and most here find it make sense to make an RLT instead.
Re: need for trusts
There is no right answer for everyone. Sometimes they are useful, sometimes they are not. If you're interested in a consultation to discuss your specific situation, contact my office.
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