One of the most common mistakes Californians make in estate planning is assuming a simple will is enough to protect their assets and loved ones. While wills and living trusts both play important roles, they work very differently under California law — and misunderstanding those differences can cost families time, money, and peace of mind.
Wills in California
A will outlines how your assets should be distributed after your passing. However, in California, most wills must go through probate court, which can be:
- Time-consuming – Probate often lasts 9–18 months.
- Costly – Statutory fees for attorneys and executors are based on the gross value of the estate, not the net, which means even debts don’t reduce the calculation.
- Public – Probate records are part of the public record, meaning anyone can view them.
Living Trusts in California
A living trust, on the other hand, avoids probate altogether when structured correctly. Trusts are:
- Private – The details remain outside of public record.
- Efficient – Assets transfer directly to beneficiaries without court involvement.
- Flexible – Trusts can be amended as life circumstances change.
For many Californians, especially homeowners, a living trust provides stronger protection, ensuring the family home and other major assets pass smoothly to loved ones.
Which is Better?
The right choice depends on your goals, family dynamics, and the types of assets you own. Some people benefit from having both:
- A living trust for major assets like real estate.
- A will to cover guardianship of minor children and any assets not transferred into the trust.
Key Takeaway
The #1 estate planning mistake Californians make is relying only on a will, without realizing the probate challenges it brings. Understanding the advantages of a living trust can help families avoid unnecessary costs and stress.
💡 Next Step: If you’re unsure which option is best for your situation, consider contacting us for a free consultation!
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