Are trusts only for the wealthy? It’s a common misconception that trusts are reserved for those with massive estates and deep pockets. But the truth is, that trusts offer significant benefits for people at all income levels. In this video, we’ll break down affordable trust options and highlight the benefits of trusts that can help protect your assets, simplify estate planning, and secure your family’s future—no matter your financial situation.
Transcript:
Certainly not, especially in California where the probate limit just above $180,000 in 2023. Anybody who owns a $180,000 of assets or more, when they pass away, their estate is going to go to probate. It can take quite a while and be quite expensive, and so no. A rich person needs a trust, but most middle-class people in California also would want to have a trust, especially if they have children that are younger. A trust can help manage those assets for the children until they’re old enough to do it themselves much better than you can with a will, and the process will be simpler and their lives will be less disrupted should their parents pass away because the trustee will be able to step in much quicker. No, pretty much anyone has, like I said, over about $180,000 in assets and people they love that they want to have their assets go to will need a trust.
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Whether you’re protecting a large estate or simply making sure your loved ones are taken care of, trusts can be an affordable and valuable tool. If you’re ready to explore your affordable trust options or want to learn more about the benefits of trusts, reach out to us at the Law Office of Andrew Fesler today. We’ll help you find the best solution for your unique needs and ensure your financial future is secure.”
