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I have been appointed as executor once she can no longer manage. Does spending the estate down, then unable to pay property taxes grounds for removal as trustee of estate? She has until the end of this month (June 2024) to pay $2,770 in property tax or it will fall into default. The property is... View More 
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answered on Jun 2, 2024
As a beneficiary of the family trust, you need to ensure the property tax is paid to prevent the property from falling into default. Since the current trustee is unable to manage the payments, you should consider stepping in to help manage the trust's financial obligations.
First, try... View More
I have been appointed as executor once she can no longer manage. Does spending the estate down, then unable to pay property taxes grounds for removal as trustee of estate? She has until the end of this month (June 2024) to pay $2,770 in property tax or it will fall into default. The property is... View More
answered on Jun 2, 2024
I usually describe the succession of executors and trustees like a baseball team. The person up to bat right now is your loved one who owns the property and is the executor (if they have a Will) or trustee (if they have a Trust). You and the other “back up” executors or trustees are waiting in... View More
The sales of my late Father's vehicles are set up to automatically go back into the estate trust. The beneficiary has not filed the slips with the attorney. Is there a a statute of limitations to declare the purchase price of the vehicles sold
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answered on May 31, 2024
In California, the administration of a trust, including the sale of vehicles and other assets, must be conducted in accordance with the terms of the trust and state law. When vehicles are sold, the beneficiary responsible for the sale is typically required to inform the trustee or attorney handling... View More
The sales of my late Father's vehicles are set up to automatically go back into the estate trust. The beneficiary has not filed the slips with the attorney. Is there a a statute of limitations to declare the purchase price of the vehicles sold
answered on May 31, 2024
I never expect people will know legal terminology, which is why I always try to speak in plain English except where absolutely necessary to use legalese. So, it isn’t a problem, but I believe you mean either administrator, executor or trustee rather than “beneficiary”.... View More
The deed has our names and the nephew name as joint tenancy. Now the nephew want to grant his part to his wife instead? Does this sever the joint tenancy? Can we have the exemption for tax reassessment? Can we use the interspousal deed to do it?
answered on Jun 2, 2024
Thank you for your question!
Joint tenancy ends with the transference of interest by any of the joint tenants. A new tenancy in common is created without the right of survivorship.
For tax exemption, you need to consult with a tax attorney.
This is merely a discussion of... View More
The deed has our names and the nephew name as joint tenancy. Now the nephew want to grant his part to his wife instead? Does this sever the joint tenancy? Can we have the exemption for tax reassessment? Can we use the interspousal deed to do it?
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answered on May 28, 2024
In California, a joint tenancy is a form of property ownership where two or more people own equal shares of a property with the right of survivorship. This means that if one joint tenant dies, their share automatically passes to the surviving joint tenant(s) without going through probate.... View More
My fiance & I have lived together 15 yrs. His sister who is successor tr of his mom's estate evicted us. She put some guy at the house telling me I couldn't go in and get my things! She threw everything I own away! Now they are getting ready to close escrow and fiances atty says just... View More
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answered on May 25, 2024
There are a few important legal considerations here:
1. Your fiancé's attorney has a duty to represent only your fiancé's interests. The attorney cannot ethically represent both of you if there is a conflict of interest between you and your fiancé.
2. Even if you are... View More
My fiance & I have lived together 15 yrs. His sister who is successor tr of his mom's estate evicted us. She put some guy at the house telling me I couldn't go in and get my things! She threw everything I own away! Now they are getting ready to close escrow and fiances atty says just... View More
answered on May 28, 2024
Any time you have two parties whose rights and interests may diverge, it is recommended to seek separate representation for the two parties. There are certain situations in which a dual representation may be appropriate, such as joint estate planning for a married couple, but even then, informed... View More
I just acquired house from late father's trust. Been married 45 years.
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answered on May 21, 2024
Since you acquired the house from your late father's trust, it is likely considered your separate property rather than community property under California law. However, there are a few important considerations:
1. Commingling: If you use any community funds (e.g., income earned during... View More
I just acquired house from late father's trust. Been married 45 years.
answered on May 21, 2024
Thank you for your question!
Under California laws, Assets obtained through heritage are separate properties even if during marriage.
The house was obtained through a trust from your father. It would be probably a separate property, rather than a community property if you lived in... View More
Is there another way to cash it with out id or bank account?
answered on May 20, 2024
Distributions to beneficiaries do not necessarily have to be via check. They could be paid in other forms. However, depending on the estate matter, the individual providing the distribution may require a receipt.
Is there another way to cash it with out id or bank account?
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answered on May 20, 2024
If you are a beneficiary in California without an ID or bank account, there are a few potential options for receiving your funds besides a traditional check:
1. Prepaid debit card: Some benefits programs may offer the option to receive funds on a prepaid debit card. You would need to check... View More
THE REVOCABLE trust for the house was written as the 'MY MOM's NAME trust dated October 11, 2022,' and the house title/deed was changed at the LA county reg/recorder's office & Assessor's to that effect on the next day. NOTHING else, such as bank accounts, is in the... View More
answered on May 20, 2024
I want to clarify something in your question which impacts the answer. Your question is around being the successor trustee which is what my colleagues have addressed (no requirement to change the deed to you as the successor trustee).
HOWEVER, you also mention that you are the only heir. If... View More
THE REVOCABLE trust for the house was written as the 'MY MOM's NAME trust dated October 11, 2022,' and the house title/deed was changed at the LA county reg/recorder's office & Assessor's to that effect on the next day. NOTHING else, such as bank accounts, is in the... View More
answered on May 19, 2024
The previous lawyers gave you good information. As I often tell my clients, there’s a legal answer and a practical answer to your question and those answers are often different. Legally, there is no requirement that you change title to your name as trustee. But, some realtors, mortgage companies... View More
THE REVOCABLE trust for the house was written as the 'MY MOM's NAME trust dated October 11, 2022,' and the house title/deed was changed at the LA county reg/recorder's office & Assessor's to that effect on the next day. NOTHING else, such as bank accounts, is in the... View More
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answered on May 19, 2024
Based on the information you provided, here are the answers to your questions under California law:
1. Changing the deed:
Since the house was already in the trust with your mother as the trustee and you as the successor trustee, the property should automatically pass to you as the... View More
THE REVOCABLE trust for the house was written as the 'MY MOM's NAME trust dated October 11, 2022,' and the house title/deed was changed at the LA county reg/recorder's office & Assessor's to that effect on the next day. NOTHING else, such as bank accounts, is in the... View More
answered on May 19, 2024
1. Changing the Deed and Reassessment
When your mom, the original trustee, passed away, as the successor trustee, you typically have the responsibility to manage and eventually distribute the trust's assets according to its terms. Here's what you need to consider regarding the... View More
THE REVOCABLE trust for the house was written as the 'MY MOM's NAME trust dated October 11, 2022,' and the house title/deed was changed at the LA county reg/recorder's office & Assessor's to that effect on the next day. NOTHING else, such as bank accounts, is in the... View More
answered on May 27, 2024
1. DO I have to change the deed at reg/recorder's office and risk reassessment?
No you do not have to for now unless it is too the best interest of the beneficiaries of the trust (and the interests of the trustees are not considered in any decision about the management of the trust... View More
The trust that had been consistent with beneficiary distribution for five weeks changed massively in the 25 minute meeting to sign the trust and left with no trust. When requested it was evident what happened and the request was made to send the correct trust With the minor changes that we’re... View More
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answered on May 19, 2024
I'm sorry to hear about the situation with your father's trust and his passing. This sounds like a complex and difficult legal matter. In general, under California law, you may have some potential avenues to challenge the actions of the attorney or agent acting under a Durable Power of... View More
Can a Sonoma County (Petaluma) homeowner, who has owned their home for approx. 45 years, add a family member (sister) to the deed without impacting the benefits of Prop 13? The Will/Trust states the house is to be inherited by the sister, but then inheritance taxes would apply, correct? What is... View More
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answered on May 18, 2024
Under California law, transferring ownership of a property can have significant tax implications. In this case, there are a few key points to consider:
1. Prop 13: This proposition limits property tax increases on a property until there is a change in ownership. Adding a sister to the deed... View More
Can a Sonoma County (Petaluma) homeowner, who has owned their home for approx. 45 years, add a family member (sister) to the deed without impacting the benefits of Prop 13? The Will/Trust states the house is to be inherited by the sister, but then inheritance taxes would apply, correct? What is... View More
answered on May 18, 2024
Sorry to say, the only way to avoid a reassessment for property tax purposes is when property is transferred between spouses, parents and children, and/or grandparents and grandchildren IF the parents are deceased. There is no exemption in any law that says you can transfer property to a sibling,... View More
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