What Coronado Homeowners Should Know About Estate Planning
Coronado probate can be a complicated and expensive process for families inheriting real estate in our coastal community. With the median home value in Coronado exceeding $2.4 million, proper estate planning becomes even more important for local homeowners.
As a top Coronado real estate agent team, we often hear questions about how probate works and whether putting your Coronado home in a trust makes sense for your family.
Disclaimer: While we can share general information about these topics, we are not attorneys and can’t provide legal advice. Be sure to consult with a qualified estate planning attorney and financial advisor to make the right decision for your specific situation.
How Does Probate Work for Coronado Real Estate?
Probate is the court-supervised process of distributing a deceased person’s assets, including real estate. In California, probate typically takes 6 months to 2 years and involves substantial costs based on the property’s value. For Coronado homeowners with properties valued in the millions, these fees can quickly add up. The process also becomes part of public record, meaning details about your estate and beneficiaries are accessible to anyone.
California recently updated its probate laws through Assembly Bill 2016, which took effect on April 1, 2025. The new law allows heirs to transfer a primary residence valued at $750,000 or less through a simplified petition process rather than full probate. However, given that most Coronado luxury properties far exceed this threshold, the majority of local homeowners will still face traditional probate unless they take proactive steps to avoid it.
What Are the Benefits of Putting Your Coronado Home in a Trust?
A revocable living trust is currently the only way to completely avoid probate in California. When you place your home in a trust, ownership transfers directly to your designated beneficiaries without court intervention, typically within weeks rather than months or years. This approach offers several advantages for Coronado families.
First, trusts maintain privacy. Unlike probate, which becomes public record, a trust keeps your estate details confidential. Second, you avoid the significant costs associated with California probate, which can be particularly high for valuable coastal real estate. Third, a trust provides flexibility and control, allowing you to set specific terms for how and when beneficiaries receive the property. You can also plan for potential incapacity, ensuring someone you trust can manage the property if you’re unable to do so.
For families interested in exploring Coronado real estate opportunities or learning more about the local market, understanding estate planning becomes part of protecting your investment. Creating a living trust typically costs between $1,000 and $2,000 in California, which is modest compared to potential probate expenses. Keep in mind that the trust must be properly funded. You’ll need to actually transfer the property title into the trust name and update it as you acquire new assets.
When Should Coronado Homeowners Consider Estate Planning?
Estate planning isn’t just for retirees or the ultra-wealthy. If you own real estate in Coronado, you have a valuable asset worth protecting now. Many homeowners wait too long to establish trusts, leaving their families to deal with probate during an already difficult time.
The best time to create an estate plan is well before you need it. Whether you’ve recently purchased a home, experienced changes in family circumstances, or simply haven’t reviewed your estate documents in years, now is a good time to take action.
Local market conditions matter too. If you’re curious about your property’s current value for estate planning purposes, you can request a free home valuation to get accurate information. Staying informed about the Coronado real estate landscape through resources like our market reports can also help you make better estate planning decisions.
Working with experienced professionals makes the process smoother. You’ll want an estate planning attorney who understands California law and can structure a trust that fits your goals. Many Coronado homeowners also benefit from connecting with the best Realtor in Coronado who can provide insights about property values and market trends that inform your planning.
Making the Right Choice for Your Family
Deciding whether to put your Coronado home in a trust involves weighing costs, benefits, and your family’s unique circumstances. While probate may be unavoidable for some estates, most Coronado homeowners with valuable real estate will benefit from establishing a revocable living trust. The peace of mind that comes from knowing your property will transfer smoothly to your loved ones without court delays or public disclosure is invaluable.
Remember that estate planning is deeply personal and requires professional guidance. We’re passionate about helping Coronado families navigate all aspects of real estate, from buying and selling to understanding how property ownership fits into your larger financial picture. However, decisions about trusts and probate require legal expertise we don’t provide. Connect with a qualified attorney who can review your situation and recommend the best approach.
If you have questions about Coronado real estate values, market conditions, or anything related to buying or selling property in our beautiful San Diego coastal communities, Whitney and our team would love to help. Contact us today to discuss your real estate goals and how we can support your family’s long-term plans.
Frequently Asked Questions About Coronado Probate and Trusts
How much does probate cost in California?
California probate fees are calculated as a percentage of the estate’s gross value. For a $2 million Coronado home, statutory fees for the attorney and executor total about $46,000, plus court costs and additional expenses.
Can I avoid probate without a trust?
A revocable living trust is currently the only way to completely avoid probate in California. While the 2025 law allows simplified transfers for primary residences under $750,000, most Coronado properties exceed this threshold.
Do I lose control of my home if I put it in a trust?
No. With a revocable living trust, you maintain full control of your property during your lifetime. You can sell, refinance, or remove the property from the trust at any time.
How long does California probate take?
California probate typically takes 6 months to 2 years to complete. By contrast, property held in a trust can transfer to beneficiaries within weeks.
What happens if I don’t have a trust or will?
If you die without estate planning documents, California intestate succession laws determine who inherits your property through probate court. This process takes longer and offers no control over distribution.
Does putting my home in a trust affect property taxes?
No. Transferring your primary residence into your revocable living trust doesn’t trigger a property tax reassessment in California. You maintain the same tax basis.
How much does it cost to create a trust in California?
Creating a living trust in California typically costs between $1,000 and $2,000. This one-time expense is modest compared to probate costs for valuable Coronado real estate.
Can I put my home in a trust if I still have a mortgage?
Yes. You can transfer mortgaged property into a trust. Federal law prevents lenders from calling the loan due when you transfer property into your revocable living trust.