A WILL, also known as a last will and testament, is a legal document where the creator spells out his or her wishes as they relate to the transfer of their property upon their death. In California there are special requirements surrounding the creation, signing, and witnessing of a will. It is also important to note that in California, wills do not help your assets avoid probate court. Wills get probated and the court has to issue legal documents called Letters Testamentary authorizing the executor of the will to administer the estate and transfer the assets covered by the will.

A TRUST, is another type of legal document where the creator can spell out his or her wishes as they relate to the transfer of their assets upon death. It is a contract where one person (the Trustor AKA Settlor AKA Grantor) agrees to hold certain assets apart (in trust) for the benefit of another person (the beneficiary). There are many different kinds of trusts and they are used for various purposes, including but not limited to transferring property at death, structuring how and when beneficiaries receive their inheritance, minimizing taxes, maintaining the privacy of the family, and protecting assets from creditors, divorcing spouses, and other alienation. But perhaps the most common reason California residents create trusts is to avoid probate, or in other words, to allow for a private transfer of assets at death without the involvement of attorneys, judges and the court system.

Californians often seek to avoid probate court because it can often take 1 to 2 years or more to complete asset transfer process, and the fees associated with the work can be expensive. Click below to view the California Probate Fee Calculator: