Estate Planning Attorney in Laguna Hills, CA | Confidential Consultations
Estate Planning Attorney in Laguna Hills, CA | Confidential Consultations
Home » Do I Really Need an Estate Plan If I’m Not Wealthy in California?
One of the most common questions I hear as a California estate planning attorney is simple and honest.
Do I really need an estate plan if I am not wealthy?
Some people may think estate planning is only for the ultra wealthy or those with complicated investments. If you own a modest home, have a retirement account, or live a relatively simple life, it is easy to assume estate planning can wait or is unnecessary.
In California, that assumption often leads to probate court, delays, and costs that could have been avoided entirely.
Estate planning is not about how much money you have. It is about control, protection, and making life easier for the people you love.
Estate planning is the process of deciding what happens to your assets, finances, and medical decisions if you become incapacitated or pass away.
A complete estate plan typically addresses:
Read more:
What does a complete estate plan include
Estate planning applies to anyone who owns property, has a bank account, or wants control over their medical care. That includes renters, homeowners, parents, and retirees alike.
Most people associate estate planning with estate taxes and ultra-large inheritances, maybe in the tens of millions. In reality, estate taxes affect only a very small percentage of families.
The real risk for most Californians is probate.
Probate is the court supervised process that transfers assets when someone dies without proper planning. It applies whether you have a will or no documents at all. California Courts Probate Overview
Probate is expensive, slow, and public. It does not care whether you are wealthy or not.
If you pass away without an estate plan, California law decides what happens to your property.
This is called intestate succession. California Probate Code Intestate Succession
The court determines:
This often leads to outcomes families did not expect, especially in blended families, unmarried relationships, or situations involving minor children. Estate planning for blended families
Probate costs in California are based on the gross value of the estate, not the equity.
A person with a home valued at $800,000 or $1,000,000 may believe they are not wealthy. Under California probate law, that estate is still subject to statutory fees. California probate costs
This means middle class homeowners often face tens of thousands of dollars in probate fees even when their net worth feels modest.
Estate planning is often more important for middle class families because probate costs represent a larger percentage of what they leave behind.
If you own real estate in California, an estate plan is critical. Without a living trust, your home must go through probate. Protect your family home in Orange County
Estate planning allows you to name guardians for minor children and control how money is used for their benefit.
Joint ownership alone does not avoid probate after the second spouse passes. A trust ensures continuity and privacy. Avoid probate with joint ownership risks
Without an estate plan, courts may appoint someone you would never choose to handle your finances or medical decisions.
Estate planning gives you control in three key areas.
If you become incapacitated, a power of attorney and health care directive allow trusted individuals to act without court involvement. Essential estate planning documents
A living trust allows assets to transfer privately and efficiently according to your wishes. Living trusts in Orange County
You can control when beneficiaries receive assets and protect them from creditors or poor decisions.
A will may seem like it covers everything, but it often leaves important gaps. In California, a will does not avoid probate.
A will must be filed with the probate court and approved by a judge. This process can take 12 to 24 months or longer. Trust vs will vs living trust
A living trust avoids probate entirely when assets are properly titled.
Estate planning is not reserved for large estates. It is for people who want:
Most of the families I work with are not wealthy by their own definition. They simply want their plans to work when it matters.
Estate planning is an upfront investment. Probate is a forced expense later.
For most families, the cost of a trust is far less than the cost of probate and is paid once rather than deducted from the estate later. Estate planning cost in California
Yes. Estate planning also covers medical decisions, financial authority, and beneficiary planning.
No. Most estate plans focus on probate avoidance, control, and family protection.
If something happens unexpectedly, your family may be forced into probate court.
It is usually far less expensive than probate and is paid once.
DIY plans often fail due to improper funding and missing documents.
You do not need to be wealthy to need an estate plan in California. If you own property, have loved ones, or want control over your future, estate planning is essential.
The question is not whether you are wealthy enough to plan. The question is whether your family is protected if something happens tomorrow.
If you live in Orange County or anywhere in California and are ready to protect your family and avoid probate, now is the right time.
Schedule your free 30-minute Strategy Session today or call (949) 377-2996 with Michael Pevney, your trusted Orange County estate planning attorney.
SECURE YOUR LEGACY
With over 18 years of legal experience in Orange County, Michael Pevney focuses on estate planning to help families protect assets, avoid probate, and secure their legacy with confidence.
