Plenty of Southern California families own a home worth half a million dollars or more and still believe a simple will has them covered. DeDe Soto explains why that belief sends estates into probate, where fees run about 5% of the fair market value of everything a family owns. She walks through how a revocable living trust works while its creator is still alive, why the grantor keeps full control, and how funding the trust with real estate, brokerage accounts, and business interests makes the plan work.

DeDe also covers the pour-over will, sub-trusts that shield a child's inheritance from divorce, Prop 19 strategies for passing the family home to one child, and how one California trust can hold property in multiple states.

Anyone who has been putting off a living trust, or who has one gathering dust in a binder, will come away knowing what to do next.

In this episode, you will hear:

• Why a will alone still sends a California estate through probate
• How a revocable living trust works while the grantor is alive and in control
• The difference between revocable and irrevocable trusts, and which one to set up first
• Funding the trust with real estate, brokerage accounts, and business interests
• Sub-trusts that protect a child's inheritance from divorce and overspending
• Passing the family home to one child under Prop 19 while keeping distributions equal
• Holding property in multiple states under one California trust

Resources from this Episode

https://www.thesotolawgroup.com/contact-us-newport-beach-lawyers

Phone: 949-629-4569

Address:

The Soto Law Group
4041 MacArthur Boulevard, Suite #200
Newport Beach, CA 92660

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Episode Credits

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