|
Feature |
Probate (with a Will or Intestacy) |
Living Trust Administration |
| Legal Process | Court-Supervised Process. The Superior Court oversees the entire administration of the estate. | Private, Non-Judicial Process. Managed privately by the Successor Trustee, with no court supervision required. |
| Assets Covered | Only assets titled solely in the deceased person’s name that do not have a beneficiary designation (e.g., real estate, bank accounts, stocks). | Assets titled in the name of the trust. This can include real estate, bank accounts, investments, etc. |
| Avoids Probate | No. A Will must go through probate if the gross estate value (with some exceptions) exceeds $184,500 (as of 2025). | Yes. Assets in the trust bypass probate court entirely. |
| Cost | Expensive. Statutory fees for the executor and attorney are set by law based on the gross estate value, plus court costs and appraisal fees. Fees can easily consume 3% to 8% of the gross estate value. | Generally Lower. Involves upfront costs to create the trust, but the administration after death is often a fraction of the cost of probate. |
| Time to Settle | Time Consuming. Typically takes 12 to 18 months, or often longer for complex or contested estates. | Faster. Can often be completed in a few months, depending on the complexity of the estate. |
| Privacy | Public Record. Since it is a court process, the Will, estate inventory, asset values, and distribution details are available to the public. | Private and Confidential. The trust document and all financial details remain private among the trustee and beneficiaries. |
| Management Upon Incapacity | Difficult. A Will only takes effect at death. If you become incapacitated, a court-appointed conservator may be needed to manage your financial affairs (a costly and public process). | Excellent. The named Successor Trustee can seamlessly step in to manage your assets for your benefit without court involvement. |
| Control/Flexibility | Limited. Distribution is strictly governed by state law and the court’s rules. | Greatest. You can specify terms for asset distribution (e.g., staggered payments for young beneficiaries) and set up long-term management. |
The foregoing information is provided in accordance with California law and is applicable to Los Angeles, San Bernardino, Riverside, Orange County, and other regions of California.
The probate process in California can be complex. It is advisable to begin the process promptly to avoid complications. Consulting a qualified probate attorney like Law Office of Antoniette Jauregui . You can also call her at 951-218-4083 or 909-890-2350 to determine whether probate is necessary and to correctly navigate the legal process.
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