There is a 2nd adult daughter that he is excluding. How can he do this? Will a quit claim deed suffice? I believe the house is free and clear. Hispanic family but full citizenship. Please advise me what to tell him or where I can send him for legal advice. He is definitely low income.
That depends on how the deed is worded. If it lists you as a joint tenant with rights of survivorship then you are now the full owner and skip Probate, but you need to file an affidavit with the county clerk and show them the death certificate to get the house recorded in your name alone....Read more »
Jack and Jill transfer property to Jack and Jill has Trustees of 2005 trust later jack-and-jill transfer to Jack and Jill as Trustees of 2010 Trust which trust is the property in is any corrective action necessary where would the hang-up be at the title company the recorder the Assessor and does... Read more »
She is unable to pay her bills and refuses any type of help or to go to the doctor. I fear for her safety. Wellness checks from the Department of Public Safety in La Mirada have resulted in reports that state that she should not be alone. Home visits from SASSFA have stated that she is confused... Read more »
She can grant you Power of Attorney if she has the capacity to.
It sounds like it might be too late for her to sign anything. In that case you have to get the court to grant you a conservatorship. It will require a form from her doctor plus a pile of papers, and an investigator will...Read more »
Her brother died, he was 75 and had no dependents. Mom is the next of Kin. She receives her deceased spouses SS Retirement benefits that started when she retired at 62. She was left to take care/close out his banking and found out he had a 401K and an IRA. She is a beneficiary on one and had to... Read more »
We both want to be able to remain in the home, make improvements, or sell if the other passes away. He wants to ensure his children to receive his share of the proceeds if the house is sold after his death. We may get married and have more children in the future. What is the best ownership... Read more »
Joint tenancy would mean that when A dies, B gets it all. B may not remember or want to give assets to the children of A. B might just meet a new person after the funeral and forget A completely! It happens, and poor A's kids get left out in the cold....Read more »
Her brother died of Covid on January 19th. My wife then died of Covid 4 days later. What happens to the 401k account? Her brother had a daughter, but she wasn't listed as a beneficiary. Does the 401k pass to the daughter, or does it go to my wife's estate?
A Will or a Trust normally has provisions regarding this sort of situation, but unless the 401K administrator had the brother sign something unusual, then the money would still go to the estate of your wife. But check with the administrator.
When she passes the house to you, it gives you a stepped up basis with regard to capital gains taxes. Her tax basis was what she paid but yours will be what the value was when she died (good for you financially). So you will only be taxed on any gain from the date of her...Read more »
I just started a company (a Delaware C-corp). It is worth basically nothing at this point since it just got started. There are no investors so far, so I own most of the shares in the form of restricted stock that has been early-exercised. The shares will be vested over 4 years.
One solution I have seen is to issue her non-voting shares. These will have 40% less value than a regular voting share because they have no control. That would allow you to give them to her at $25,000 per year without filing a gift tax return.
Being the oldest doesn't help. Someone petitions the Probate Court to be the administrator. If the siblings object then the judge will yell at them to find a solution they can agree on, like even a professional service.
I'm looking to purchase a property with my partner in the name of a trust to improve our privacy and create the framework for future estate planning. We're unmarried with no kids or other assets. Is it acceptable to have a joint living trust for an unmarried couple in CA? Does this... Read more »
I am not sure exactly what you are asking, but if when I transfer property into a living trust I write on the deed "Transfer to inter vivos trust per Cal Tax & Rev Code 11930". I put it near the transfer tax line.
Depending on the county, they may also want a Transfer Tax...Read more »
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.