by Attorney Douglas Borthwick

The Benefit of Revocable Trusts

In California and similar states, probate can turn into a drawn-out and expensive process. Court costs can go as high as 5 percent of the estate’s total value, according to legal experts. As a consequence, attorneys often establish revocable trusts to avoid probate and to ensure that assets are distributed in keeping with the deceased’s wishes.

Revocable trusts prove particularly valuable when parents wish to pass a family home onto their heirs. The parents simply transfer the title of the property into the trust, where it is held until their death. At that time, the home passes onto the heirs, bypassing any need for probate. In California, an heir might save an estimated $10,000 in probate costs on a home valued at $200,000.

Lawyer Douglas Borthwick is owner and President of Freeman & Borthwick in Santa Ana, California.

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