How to Avoid Probate and Death Taxes

There is a lot of hassle that comes with drawing up a will. It seems like it might be impossible to avoid the large sum of taxes that come with transferring your estate and belongings to your family and friends. But what may come as a surprise is, with the right San Diego trust attorneys, you can create a solid trust that will allow you to pass on your estate free of taxes and probate.

The first step of probate is when the court decides whether the will is invalid or not. If it is deemed invalid, the probate court applies the state inheritance laws to the estate. If the will is deemed valid, the court then oversees the process of settling the will. This includes overseeing the distribution of assets (including payment of state and federal taxes), hearing contested claims by creditors and others seeking to collect from the estate, deciding which possessions are subject to estate administration, and supervision of many more actions that may have even been specified within the will.

Probate can lead to large taxation of your estate and unwelcomed assistance in the distribution of your possessions. To avoid these death taxes and the long process of probate, it is important to set up a trust along with your will. San Diego probate lawyers are able to set up solid trusts that prevent probate and allow you to pass on your possessions free of estate taxes.

Estate Planning is extremely important in ensuring that your estate and belongings are passed on to whom you want and how you want. Setting up a trust is invaluable and it’s the only way to make sure your family and friends avoid probate and death taxes. Walters and Ward are great San Diego lawyers that will help you further understand the importance of trusts and help you start the process of protecting your estate.