Preparing for the worst case scenario is rarely on anyone’s to-do list. However, as a parent, a comprehensive estate plan can help you properly prepare for your child’s well being.
Probate is the legal process for reviewing the assets of a deceased person and determining inheritors. A probate proceeding is not always required upon death but is usually essential when a deceased person's remaining estate is of high value.
In California there are two general ways to structure an estate plan: with a “Living Trust” or with a “Will“. There are several differences between the two, including upfront cost, costs down the line, ease and difficulty of administration, the need for hiring an attorney and of course, the emotional toll on your family.