"Assembly Bill 2016 took effect April 1, 2025, creating a simplified court process for transferring a primary residence worth $750,000 or less and raising the small-estate threshold for certain non-real estate assets above the former $184,500 limit."
"For many Bay Area households, however, that relief will be limited. Home values in San Francisco and surrounding communities often exceed the new cap, and the law applies only to a principal residence."
"A properly funded living trust remains the strongest way to keep a home out of probate regardless of value, but it helps only if assets are actually in it."
Recent legal changes in California necessitate a review of estate plans, particularly for Bay Area families. Assembly Bill 2016 simplifies probate for primary residences valued at $750,000 or less, but many homes exceed this limit. The law requires agreement among heirs and involves court processes. A properly funded living trust is essential to avoid probate. Additionally, refinancing can jeopardize trust status if deeds are not correctly updated, leaving homes vulnerable. Families should ensure their estate plans reflect current laws and personal circumstances.
Read at San Francisco Bay Times
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