Wednesday, September 19, 2018 / by Abio Properties, Blogger
When legendary singer Aretha Franklin died recently, she didn’t leave a will or a trust for her estimated $80 million estate. No instructions about how to split her assets among her four children or deal with creditors and extended family members who might claim portions of her estate.
That got us thinking. More than half of Americans don’t have a will or trust – important estate planning documents that, after a person dies, allow their survivors to avoid an expensive and long probate process.
“We have a responsibility to talk to our friends, families, and our clients about how crucial it is to protect the things they worked so hard for,” says Abio real estate agent Vikki Bearman. “Especially in California, where, for many of us, our biggest assets are our properties.”
So, here is our primer on wills, trusts, and probate:
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