One of the most exciting changes to the California Probate Code for 2012 is the increase in the estate value threshold of formal probate proceedings from $100,000 to $150,000. Additionally, the real property threshold increased from $20,000 to $50,000. Smaller estates and improperly funded trusts may now be able to avoid expenses and delays typically associated with a formal probate proceeding.

However, these increases should not dissuade you from drafting an estate plan. Other non-financial aspects of estate planning, such as powers of attorney in the event of incapacity, are necessary regardless the size of your estate.

Contact my office today to further discuss how these changes may affect you.