Law Office of Gregory I. Becker
estate planning lawyerhttp://www.gregorybecker.com 215 Avenue I, Ste 109, Redondo Beach, California 90277 (310) 543-1126
Last Updated: 24 Mar 2021
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Mr. Becker is a Probate and Estate Lawyer. His firm prepares Wills & Trusts, handles court supervised probate matters and administers Living Trusts.
Probate is a court-supervised process for transferring a deceased person's assets to the beneficiaries listed in his or her will. It is a common process for those that do not establish a Living Trust.
Probate is generally expensive, time consuming and is not private. Lawyer's fees and Executor's commissions are based on a statutory fee schedule. A probate may cost more than the management and distribution of a comparable estate under a living trust. Time can be a factor as well. Probate proceedings generally take much longer than the administration of a living trust. Probates are public. Your estate plan and the value of your assets will become public record.
Estate planning involves assets and various forms of ownership & titling of those assets. There are many issues to consider when planning an estate including: how assets will be managed, when certain assets will be transferred to others, and to whom those assets will pass.
In the case of families with minor children estate planning addresses more than the handling of assets as the needs of the minors take precedence.
Often times, through the establishment of a living trust, the downsides of probate can be avoided and a long-term plan for the family can be put into place.
CA Bar # 183059