Most people assume their families will easily step in when it comes to your property, business, or even something as personal as your favorite guitar. But California’s probate rules can turn that simple expectation into a drawn-out, year-long court process.”
At Price Law Firm, APC in Redlands, California, we’ve spent more than two decades guiding neighbors through thoughtful planning that keeps loved ones out of court and money where it belongs.
Why Estate Planning is Crucial in California
Planning ahead isn’t reserved for Silicon Valley millionaires. If you own a car, a condo, or a lovable Labrador, you already have an “estate.” A well-built plan lets you decide who receives those assets, how fast they get them, and who makes choices for you if illness strikes.
California probate fees often reach four percent of the estate’s value. Without written instructions, state intestate laws decide the split, which can spark family tension and drain savings on court costs. A basic plan helps you avoid that mess, keeps your affairs private, and gives clear direction to friends who want to honor your wishes.
California Estate Planning Checklist
The list below breaks big ideas into small moves you can finish individually. Tackle them in order or jump to the item that matters most right now, then circle back later.
1. Inventory Your Assets
Start by writing down everything you own and what you owe. Seeing the full picture on paper makes later choices far simpler.
- Real estate: home, rental, or vacant land
- Financial accounts: checking, savings, brokerage, retirement plans
- Personal items: vehicles, jewelry, musical instruments, collectibles
- Life insurance face value
- Liabilities: mortgages, student loans, credit cards
Gather deeds, recent account statements, and loan documents, then keep them in one folder for easy reference.
2. Draft Your Estate Plan
Before calling an attorney, sketch answers to four questions: Who should receive your property, who raises your minor children, who makes health choices for you, and who handles money if you cannot?
Writing these thoughts now cuts legal fees later and sparks family talks that head off future conflicts.
3. Create a Will
Your will names guardians for young kids and explains where your probate assets go. Under California Probate Code §6110, the document must be in writing, signed by you, and witnessed by two uninterested adults.
Remember, a will does not control assets with beneficiary forms, such as retirement plans or joint tenancy real estate.
4. Establish a Trust (if applicable)
A living trust can quickly transfer assets to loved ones while skipping probate. Unlike a will, which becomes a public record, it also keeps your financial life private.
Families with children who have disabilities can add special provisions so government benefits remain intact, while parents still receive extra support.
5. Execute an Advanced Health Care Directive
This form lets you say what treatments you accept or refuse and names someone to speak with doctors if you cannot. If you live with a serious illness, talk to your physician about a POLST form, which travels from the hospital to the nursing facility.
6. Execute a Durable Power of Attorney for Finances
Pick a trusted agent to pay bills, manage investments, and sign tax returns if an accident or illness leaves you unable to act. Without this document, loved ones may face a costly court conservatorship just to keep the lights on at your house.
7. Review Beneficiary Designations
Retirement plans, life insurance, and payable-on-death (POD) accounts pass outside probate. Check these forms after each major life event and whenever you change your will.
8. Create a Personal Property Memorandum
List sentimental items—grandma’s ring, your vinyl collection—and who should get them. Because the memo is referenced in your will or trust, you can update it with a simple, dated note rather than rewriting the whole plan.
9. Consider Life Insurance
Term or permanent coverage can replace your income, pay off a mortgage, or cover estate taxes that may appear if property values soar. Decide how much cash your family would need for at least three years of daily living, then price policies to fill that gap.
10. Organize and Secure Your Documents
Even the best plan fails if no one can find it. Store originals in a fire-resistant safe at home or a bank box. Hand copies to your named agents, and include a password list for digital assets such as cryptocurrency wallets or photo storage accounts.
11. Fund Your Trust
After the trust is signed, retitle real estate and brokerage accounts into the trust’s name. Ask your banker for new signature cards, and record a new deed for real estate. Skipping this step drags the property back into probate, undoing the very benefit the trust offers.
12. Review and Update Regularly
Life keeps moving, so revisit your plan every three to five years or sooner if one of these events occurs:
- Marriage or registered domestic partnership
- Divorce or legal separation
- Birth or adoption of a child or grandchild
- Large change in income or property value
- Death or incapacity of a chosen guardian, trustee, or beneficiary
A quick review now saves family members from piecing together your intent later.
Safeguard Your Family’s Future: Contact Price Law Firm, APC Today
Price Law Firm, APC, has helped more than a thousand Redlands households smoothly transfer assets from generation to generation while shrinking taxes and court costs. We would gladly answer questions, review an existing plan, or help you start fresh if you have nothing in place yet.
Call us at 909-328-7000 or visit our website to schedule a free consultation. One short conversation today can spare your family months of stress tomorrow.
