As of January 1, 2020, California has increased the probate threshold from $150,000 to $166,250. This means that if the value of your gross estate is over $166,250 at your death, your estate will be forced through the California probate court process. This means the court is forced to intervene in distributing your estate which means not only spending a lot of time but also money! Unfortunately, the San Diego probate court is extremely backlogged, and probate cases are taking approximately 1-2 years to finalize. This means that your beneficiaries will have to wait 1-2 years to receive their inheritance. But - you’re in luck!

One great way to avoid your estate being forced through the probate court is to have a Trust drafted. A Trust will ensure that your estate avoids the probate court, therefore allowing your beneficiaries get their assets in approximately 6 months - a much shorter time than if your estate was forced to go through probate! Another downside of probate court is the expensive fees and costs associated with probate. For example, if your estate at death is worth $500,000 gross, then the statutory fees and costs will be approximately $30,000. Why force your estate to pay $30,000 when you can avoid this by having a Trust in place for a much more reasonable price. It pays to plan!