If You Hate your Family - Don't get a Trust - What you Need to know about Trusts in CA

This may be the most important information I've ever shared with anyone. I’ve spent years learning what I'm about to share, and hours compiling the information in an easy to understand format for you. It’s comprehensive and important for anyone who has assets, cars, money, and especially real estate. 

If you’ve worked with me, you know I love to be as forward thinking as possible. When we are in a transaction together I‘m always outlining next steps in emails and talking about the hurdles ahead in our escrow experience, or even what's on the horizon when you finally close on your home. Now it’s time to think about the most unpleasant event in our lives, Death and/ or incapacitation leading up to our passing. 

Do you know when you’re going to die? I sure don’t, and I have always strived (and failed) to live every day like it may be my last, full of love, personal growth, family time, and - to the best of my ability  - make wise decisions. Thankfully, one of the first things I did when I had anything to my name was create what we’re about to discuss today, a trust. 

In my career, I have seen the passing of family members tear families apart. Not just because of what you might think, grieving greedy family members, but also because when the costs of passing begin to pile up, families feel the pressure and stress of the reality of their situation (in addition to the grief they are faced with). In these situations,  there is always a struggle for families without a trust who have to often come out of pocket to pay for the many burial expenses, debts, lawyers, and probate fees associated with the passing away of a loved one. 

The video will go into far greater detail but in short:

• Trusts can save families from attacking each other

• Trusts will save your descendants estate lawyers fees - (Per hour or % of estate value)

• Trusts will save state probate fees ( Google “how much is “ Your State” state probate fee )*

• Trusts will dictate who is in control of managing your estate when you pass 

• Trusts can outline your advanced healthcare directive

• Trust can create a rule book of your wishes for charity

• Trusts empower a person or multiple people to have financial power at your passing or incapacity

Simply put a trust dictates who gets what and keeps lawyers, nefarious actors, and the state from getting any more of your hard earned assets or money

*CA probate as of July of 2024 charges 4% of the first $100,000, 3% of the next $100,000, 2% of the next $800,000, 1% of the next $9,000,000, 0.5% of the next $15,000,000 based on the value of your estate - Real estate, Jewelry, Cash, Banks accounts, retirement account funds, Insurance money etc.

As I mention in the video, I have learned so much in my career, and though they are not a sponsor for me or my content I feel Anderson Business Partners lead me to success in the creation of my trust and other services. They are nationwide and will give a free 30 minute consultation where other attorneys would otherwise charge per hour, and for that I am happy to share with you my link. I know there is some kind of spiff for me from them (I don't know what it is) if you elect to use them, but from the bottom of my heart I just straight up trust them and all they’ve taught me from phone calls and their many youtube videos. Use them just for the free phone call, or sign up if you like, it doesn’t matter to me but please create a trust. It will save so much more than tens of thousands of dollars for your family.

Link to a free 30 minute phone consultation with Anderson Business Advisory Entity Planning Department. 

https://andersonadvisors.com/ss/?utm_campaign=affiliate-ss&utm_source=affiliate&tfa_2278=Affiliate&utm_medium=john%20campos&tfa_2275=7016f00000194OZ&aff_id=11ad05c7

Postscript: Check out my other video and blog post on Proposition19 in CA to understand a more detailed look at the tax implications of real estate when you pass. Also it covers a special tax incentive for those who are victims of natural disasters and 55+ who move within the state and how they can transfer their lower tax basis to their next home. 

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