Purpose Of A Will
Creating a will is an essential step in the estate planning process to protect your assets and the future of the people you love. Your will has three primary purposes, to identify your beneficiaries and the assets that will be distributed to them (whether it be a spouse, children, friends, charities, pets). Secondly, you will name a temporary and permanent guardian for any underage children so that they are not subject to being taken into State custody. Finally, you will name an Executor to carry out all of your wishes and administer the Will.
What is Probate
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What is Probate and how much does it cost
Probate is the court process in which, among other things, a decedent’s debts are paid and assets are transferred to the heirs or, if there is a will, to the beneficiaries named in the will. For a simple probate the process is generally 8-12 months. In the case of an estate with issues the process can be much lengthier. In addition, everything that goes through Probate become public knowledge, anyone can see all of your assets and liabilities. The goal is to stay out of court and out of Probate. See the fee calculator below for the current fees in California which are dictated by CA Probate Code § 10810-10811