A trust may be a worthwhile estate planning tool for many people who live in California. As a general rule of thumb, anyone with a net worth of $100,000 or more may benefit the most from a trust. They may be even more effective for those who also own a business, want to care for a disabled family member or want to delay distribution of assets to children or other heirs.
When a person dies in California, his or her estate may be subjected to administration by the probate court. Any assets that were given away prior to the decedent's passing will not be subjected to probate. Property and assets that were included in a living trust also are not administered by the courts.
There are many reasons why a person might wish to challenge a will. In the majority of cases, the person contesting a will is likely to benefit financially if the will is invalidated. California law permits contestants to challenge wills on several grounds, including lack of capacity, undue influence, revocation, fraud, duress and mistake.