Estate Planning in Santa Clarita: 3 Reasons Why It’s Essential

Estate planning in Santa Clarita is absolutely essential to help you avoid probate court, third-party involvement and more.

California Property Owners: Do you own $167,000 or more in assets, cash and property? Without proper estate planning, you may not have full control of your properties in the event of an emergency. 

When your estate plan includes a trust, however, your properties are protected from the jurisdiction of probate court. While that might not seem like a big deal, it actually affords you a tremendous amount of control and security – often when it matters most.

What’s a Trust?

A trust is a fiduciary agreement that appoints a third party, or trustee, who manages the assets, properties and wishes of the trust. 

There are three important roles in a trust: 

• Trustor – creates the trust, contributes the assets, sets terms of the trust
• Beneficiary – receives some or all of the assets in the trust
• Trustee – organization or person who administers the trust

The Benefits of a Trust

People often assume that, because they’ve created a final will and last testament, their wishes will be carried on when they pass away. This is a common misunderstanding that can cost families dearly – while they’re dealing with the grief of losing a loved one.

Especially in a booming California real estate market, a will alone isn’t enough to avoid probate court. If your properties, assets and cash exceed $167,000, you will need a trust to prevent your properties from falling into probate. It’s a critical part of your estate plan, and it shouldn’t be overlooked. 

“A trust is essentially a contract you create to protect yourself and your heirs,” explained Steffanie Stelnick, an estate planning attorney who specializes in real estate law and was recently named Litigator of the Year for 2020 by the American Institute of Trial Lawyers. “There are also a number of tax benefits that become possible with a trust, which is where having the help of a legal expert can be crucial.”

Make no mistake: Probate court should be avoided, if at all possible. The good news is, it’s very possible to avoid, and that’s where the help of a lawyer can help save you a lot of time and money.

The Dangers of Probate

If you don’t create a trust estate planning in Santa Clarita and you have significant assets, all of your assets instantly go into the jurisdiction of probate court when you pass away. Is that really a big deal?

In short, absolutely.

One well-known and, at times, uncomfortable aspect of dealing with probate court, is that it leaves a number of important decisions regarding your estate plan to a stranger who’s under no obligation to follow your wishes for your estate. It’s a loss of control that can be prevented. 

Additionally, probate can be a lengthy, and often costly, process where your assets are disclosed in court. The executor will have a series of tasks and steps to complete for the court, with deadlines to consider and paperwork to file. 

Or all of this can all be avoided with proper estate planning.

Loss of Privacy

Probate proceedings are all public. That means that your will becomes a part of the public record. You may not want to publicly disclose every detail of your final wishes. Probate court would negate any such private decisions or discrete discussions. In fact, matters settled in probate court become part of the published record in local newspapers and online.

How We Can Help

Let the experts at The Law Offices of Steffanie Stelnick help you with your estate planning questions and concerns, which will be some of the most valuable information you can ever get on behalf of your loved ones.

 If you are in need of a free consultation to find out if any of these concerns might apply to your estate or your loved ones, contact a Santa Clarita probate lawyer at our firm today.

About The Law Offices of Steffanie Stelnick

The Law Offices of Steffanie Stelnick is a full-service civil litigation law firm in California that focuses on real estate law, with cases in estate planning, probate, landlord and tenant disputes and contract disputes. Mrs. Steffanie Stelnick represents builders, small and large property management companies, investors, brokers and all types of real property owners. In 2020, she was recognized by the American Institute of Trial Lawyers as Litigator of the Year. Mrs. Stelnick believes all landlords and tenants should know their rights, and when it comes to representation, experience matters. The Law Offices of Steffanie Stelnick has handled thousands of real estate cases with a strong, aggressive approach that ensures all clients operate on an even playing field in a litigation environment. Founded in the Santa Clarita Valley, this premiere real estate law firm has offices throughout the state of California, including Encino, San Francisco and Sacramento.