Kelly Knight, JD, SRES, Founder of Knight Real Estate Group, is the first real estate professional to join the Santa Barbara Estate Planning Council. Established in 1979, the Council includes local attorneys, CPAs, trust officers, certified financial planners, chartered life underwriters, financial consultants, and fiduciaries to foster mutual understanding and stay informed about estate planning developments.
Kelly has specialized in trust and probate sales, assisting families and their representatives in navigating real estate transactions during periods of transition, such as bereavement or divorce, for over 19 years. Recently, we successfully sold 831 Alameda Padre Serra, a probate sale that fetched 10% above the asking price after receiving 9 offers in just 8 days. Collaborating with an expert like Kelly and Knight Real Estate Group, with deep expertise in handling intricate probate and trust sales and strong connections in the estate planning community, truly pays off.
The Importance of Trusts for Real Property in California:
In a state as diverse and dynamic as California, the significance of establishing trusts to hold real property cannot be emphasized enough. Here are several key reasons why creating trusts for real property in California is crucial:
- Probate Avoidance: Placing real estate assets into a trust enables individuals to bypass the probate process, saving time and money while ensuring a smooth transfer of assets to designated beneficiaries.
- Privacy Protection: Trusts offer a level of confidentiality that probate proceedings lack, shielding sensitive information about the estate’s assets and distribution from public view.
- Tax Efficiency: Well-structured trusts can help minimize estate taxes, allowing individuals to maximize the value of their assets for future generations.
- Asset Preservation: Trusts provide a protective barrier against creditors and potential legal disputes, safeguarding real property assets and preserving their integrity.
If you have questions about creating a trust or need a recommendation to a trusted estate attorney, please give us a call!