Home FAQ How much in the way of assets do I need before I should have a Living Trust?
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How much in the way of assets do I need before I should have a Living Trust?

Most people are very surprised by the amount of probate fees they will pay without a Living Trust. It does not take a "large" estate to incur significant probate fees, especially if you own real estate in California. Remember probate fees are paid on the "gross" value of your assets, including your real estate, so you do not get to subtract the mortgage from the fair market value. As an example, on a $500,000 probate estate, which could be a $300,000 fair market value home (regardless of the mortgage) and $200,000 of cash and stocks, the total probate fees are $22,300. You should review the section titled Avoidance of Probate under Education to calculate how much the probate fees would be for your estate.