Let's be honest, most of us don't feel like we have an "estate" to plan. We don't have big houses on property, large investment portfolios or substantial retirement accounts. We have a modest house, a 401k from work and probably a little debt. When someone asks if we have an estate plan in place, we chuckle and smirk.
The truth is that estate planning is not just for the rich and powerful. In California, if your estate is valued over $150,000 you will likely be subject to a lengthy, expensive and time consuming process known as probate. According to Zillow, the median California house price as of 1/19/2018 is $524,000. Considering that information, most California homeowners need to have a plan in place to protect their loved ones and their assets.
The State Bar of California provides a great pamphlet "Do I Need Estate Planning?" on their website. It has answers to the most common questions regarding estate planning.
If you are in need of an estate plan or a review of an existing plan, please contact me for a free consultation. I would be privileged to help you create a plan that is tailored to your specific wishes and needs.
Ron Suggs Law
916-903-3717
ronsuggslaw@gmail.com