I am not wealthy... I dont really own anything... I have a simple estate... I cant afford it... It is too expensive... There are so many misperceptions when it comes to Estate Planning - who needs it & how much it costs... The reality in CA is - if you have a GROSS Fair Market Value estate (see Mondays post) of $150,000.00 or more... Just in your name (see Tuesdays post)... Then your estate WILL go through probate. Probate takes an average of ONE YEAR to complete... Everything that happens in the probate case is available for the PUBLIC to see... AND the COST of a Probate - for a Gross FMV estate of $150,000 would be: $2,000.00 in hard costs $5,500.00 in attorneys fees $5,500.00 in administrator fees... Still think you dont need an estate plan??? Still think you cant afford it? Think again... TOMORROWs lesson will review what a Trust is all about...
Posted on: Wed, 01 Oct 2014 17:00:21 +0000
Trending Topics
Recently Viewed Topics
© 2015