Q: My mother is 86 years old and has decided to sell her home. However, she is concerned that she may pass before it sells
My mothers health is failing. She has asked if I will help her make a trust online. Which trust would be best for her situation. Just incase, it does not sell first. I am getting it ready to put it on the market soon. Any advice will be greatly appreciated, Thank You
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A:
Given your mother's situation, setting up a living trust could be a prudent choice. A living trust would allow the property to bypass probate if she passes before the sale is completed. This means the home could be transferred directly to the beneficiaries or sold without delays, providing a smoother transition during an already challenging time.
When creating the trust, ensure the home is properly titled in the name of the trust. This step is crucial, as it guarantees that the trust governs the property. You may also want to include specific instructions regarding the sale of the home within the trust document, which can help manage the proceeds or direct the sale process if it remains unsold.
It’s wise to consult with an estate planning attorney who can guide you through this process, especially to confirm that all legal requirements are met under California law. This approach can offer peace of mind and ensure that your mother's wishes are carried out effectively.
A: There are some legal documents that I would say you can get away with pulling an online document from a legal internet site. But, unfortunately, trusts are NOT that type of document. They are very technical and one wrong word can cause a completely different outcome than desired. Whenever people ask if they could draft their own trust, I ask them the same question: Do you know the legal definition of the word "issue". If they can accurately answer that question, I would say they MIGHT have a shot at doing the trust correctly although, as I've already said, trusts are technical and complicated legal documents. If your mother doesn't have the assets to pay a lawyer to prepare a trust for her, perhaps she can find an elder legal service in your county to help her. [Check with your local county's bar association to see if there are any free legal services for elderly folks.] By the way, your mom must be the client, not you, because the assets at issue are hers. You could only handle her affairs if you had a certain kind of power of attorney. Again, this area of law is not as easy as it may sound. Sorry about that!
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