ROBERT K. SMITH, ATTORNEY
TrustSmiths.com (818) 949-0100
Servicing The Greater Los Angeles Area
including La Canada, Arcadia, Burbank, Glendale, Los Angeles, Pasadena, Redondo Beach,
San Marino and Santa Clarita
Probate is a state court proceeding required when a natural person dies holding title to assets, such as a residence, bank accounts and brokerage accounts. Probate expenses, including court costs, attorneys' fees and executor/administrators' fees, may vary from state to state, but generally extract a significant percentage from inheritances intended for beneficiaries, family members, friends or charities. The probate court process takes time and beneficiaries do not receive full inheritances until the probate process is concluded. Prior to common usage of Living Trusts, it was difficult to avoid probate, and, therefore, making a will was better than doing nothing (in which event state laws of intestacy dictacte who are beneficiaries). Utilizing a Living Trust to transfer assets to beneficiaries without resort to probate is recognized under laws of all states.