WHAT IS AN ESTATE PLAN?
  • An estate plan is a set of comprehensive documents that lay out a clear plan of how you wish to transfer your assets to loved ones, friends, or charities after you pass.  It also includes decisions regarding your health care, conservatorship, and/or power of attorney upon incapacity, asset and tax management, and guardianship to designate individuals to care for minor children.

WHAT ARE THE BENEFITS OF HAVING A TRUST?
  • One of the primary benefits of a trust is that it allows you to avoid probate.  Probate is a lengthy and costly process where a court supervises the disposition of your assets to your heirs pursuant to California law.  Probate generally takes a minimum of one year and is subject to fixed statutory fees (Executor and Attorney's fees) pursuant to the chart below.  That means that a one million dollar estate (which is not difficult to reach if you own any real property in the Bay Area) is subject to Executor and Attorney's fees of $46,000 in probate!
SURE MY HOUSE IS WORTH A LOT BUT I ALSO HAVE A MORTGAGE SO I DON'T ACTUALLY HAVE THAT MUCH EQUITY, THE PROBATE FEES WON'T BE THAT MUCH RIGHT?
  • Unfortunately, the Estate Value utilized in Probate to determine the statutory fees looks at the gross amount of the estate assets.  Therefore, your Estate Value will include the  value of your property not subtracting any mortgage or other debt against the property.  

I ALREADY HAVE A WILL, WHY DO I NEED A TRUST?
  • Even with a will, if you own real property (or if you have personal property of $150,000 or more), probate will be required and subject to the statutory fees in the chart on this page.
  • A trust, in conjunction with the other documents included in an estate plan, allows you to avoid a conservatorship should you fall ill or become incapacitated, whether it is for a short period of time such as a couple of weeks while you are in the hospital or for a prolonged period of time such as a few months, years, or longer.  Avoid a court appointed conservator and allow a person of your choice to care and make decisions for you per your stated instructions.
  • A will is public.  That means that upon your death, your will becomes lodged with the court and your assets and wishes become a part of the public record.  A trust, on the other hand, maintains your privacy. ​
  • A trust can provide asset protection from creditors versus a will where you are unable to designate the timing of distributions to your beneficiaries and provides them with no protection from their creditors. ​

I DON'T HAVE FAMILY (SPOUSE, CHILDREN, OR IMMEDIATE FAMILY MEMBERS) SO WHY DO I CARE IF MY PROPERTY GOES TO PROBATE?  DO I STILL NEED A TRUST?
  • Even if you are not married and/or don't have children or just don't care who your money goes to, the statutory fees in Probate is wasted money.  For example, if your estate value is $500,000, the statutory fees (Executor and Attorney's fees) come to $26,000.  That money could have gone to your designated charity of choice.   ​​
MY FRIEND OR FAMILY MEMBER PASSED AWAY WITHOUT A TRUST, WHAT SHOULD I DO NOW?
  • Regardless of whether they had a will, if their Estate Value is $150,000 or more OR if they had real property, Probate will likely be required.  The will or estate will have to be administered in Probate Court and is subject to the statutory fees in the chart.  AYS Law is available to assist you through the Probate Administration process. 

MY FRIEND OR FAMILY MEMBER PASSED AWAY WITH A TRUST, WHAT SHOULD I DO NOW?
  • If the designated Trustee is unable or unwilling to administer the Trust, or if the Trustee simply needs advice or assistance,  AYS Law is available to help with the Trust Administration. 

​I AM A BUSY PROFESSIONAL AND IT IS NOT CONVENIENT FOR ME TO MEET AT YOUR OFFICE OR DURING REGULAR BUSINESS HOURS.  WHAT ARE MY OPTIONS?
  • People have busy lives so let's make things as easy as possible.  While AYS Law has offices available in San Francisco and Oakland, the firm serves the greater Bay Area and for your convenience I am happy to meet you at your work, at your home, and even after normal business hours.​

HOW MUCH DOES AN ESTATE PLAN COST?
  • Unlike probate, an estate plan is not subject to the fixed statutory fees in the chart on this page.  An estate plan can vary in cost depending on its complexity but is almost always significantly cheaper than allowing your estate to go to probate.  AYS Law has different levels of packages available and can tailor a package to suit your needs and budget.  Contact us today to set up an appointment. ​
AYS LAW
Fox Plaza
1390 Market Street #427182
San Francisco, CA 94142
Tel. (415) 644-8794
Email: info@ays-law.com

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