Q: I never transferred my mother's California house after her death in 2016 since I am still living there. Is this ok?
I inherit her house per her trust. I now want to transfer ownership to my daughter upon my death so she can live there and pay taxes per Title 19.
A: Unless there is a specific reason the home is being left in the trust, you could save money by transferring taking it out of the trust and transferring it to the beneficiary or beneficiaries listed in the trust. The County Recorder will ask to see a copy of the trust to ensure people aren’t transferring the property to the wrong beneficiaries. Trusts usually pay higher taxes than people so it’s likely you wouldn’t have to pay a CPA to prepare the trust’s tax return each year plus the taxes you would pay are likely less than if the asset was kept in the trust. Check with your tax preparer and/or estate planning attorney to be certain this is the case in your situation.
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A:
It is generally acceptable to continue living in your mother's house after her death, especially if you inherited the property through her trust. However, it is essential to ensure that the transfer of ownership from your mother's trust to you was properly executed. To transfer ownership to your daughter upon your death, you can include specific provisions in your estate plan, such as a trust or a will, to designate her as the beneficiary of the property.
Sincerely,
James L. Arrasmith
Founder and Chief Legal Counsel of The Law Offices of James L. Arrasmith
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