I asked her to create a living trust for me. I haven't sent her my Real Estate Deed copy yet. If I send it to her, is it possible easy for her to scam me and transfer my assets through her? How can I prevent this?
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answered on Feb 3, 2024
It's important to exercise caution when sharing sensitive legal documents like your property deed with someone, especially if you have concerns about potential fraud or scams. Sending a copy of your property deed to anyone, even if they are assisting you with creating a living trust, should be... View More 
My mother in law purchased a home and placed her son(Victor) on the deed as joint tenant. He was unaware of this until she told him 8 years later at which point he moved in due to financial problems. Their relationship broke down, over money of course and she then put HER 50% share into a trust... View More
answered on Feb 2, 2024
Without seeing all of the documents I cannot say for certain, but based on the information you have provided, unless there is some other restriction or agreement that limits Victor's right to sell his half of the property, he is allowed to sell his half without your mother in law's... View More
My mother in law purchased a home and placed her son(Victor) on the deed as joint tenant. He was unaware of this until she told him 8 years later at which point he moved in due to financial problems. Their relationship broke down, over money of course and she then put HER 50% share into a trust... View More
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answered on Feb 2, 2024
In California, when property is held as joint tenants, each co-owner has an equal and undivided interest in the property. This means that both your mother-in-law and her son, Victor, each own 50% of the property. Victor cannot unilaterally sell the property without your mother-in-law's... View More
My mother in law purchased a home and placed her son(Victor) on the deed as joint tenant. He was unaware of this until she told him 8 years later at which point he moved in due to financial problems. Their relationship broke down, over money of course and she then put HER 50% share into a trust... View More
answered on Feb 2, 2024
People can only sell what they own. So, if someone owns 50% of a home, that person can ONLY sell 50% of the home. If both 50% owners are living in the home, both would see the "For Sale" sign in front of the home, which would be a clear indicator that something's wrong.
The... View More
Under California law, we are able to do a simplified transfer of assets for my mom's bank accounts, without the need to go through probate court. We found out that there are fraud charges on her account after the date of her death. The bank is requesting any of these documents to start a... View More
answered on Feb 2, 2024
The answer to your question depends on the dollar value of all your mom’s assets. Look only at the assets, not the debts (such as a mortgage, credit card debt, taxes owed, etc.). If the dollar value of all your mom’s assets — meaning what price would she get if she sold everything on the open... View More
Under California law, we are able to do a simplified transfer of assets for my mom's bank accounts, without the need to go through probate court. We found out that there are fraud charges on her account after the date of her death. The bank is requesting any of these documents to start a... View More
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answered on Feb 2, 2024
In California, if you wish to handle fraud on your deceased mother's bank account without going through probate court, you can explore a few options. First, check if your mother had a payable-on-death (POD) or transfer-on-death (TOD) designation on her bank account. If so, you might be able to... View More
I'm trying to keep my dad's house in the family and I make enough money to make sure the $900/month mortgage payment is paid. How do I continue to keep it in my family?
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answered on Jan 31, 2024
To keep your father's house in the family after his passing, you'll need to consider a few important steps. First, determine whether your father had a will or any estate planning documents that specify his wishes for the property. If there's a will, it should outline who inherits the... View More
My brother past a little over a year, no spouse or children or surviving parents. There is small sum that his life ins policy has but it did not list any beneficiary. The company advised us (siblings) if we provide them with a Small Estate Affidavit that they would release the funds. Found a form... View More
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answered on Jan 31, 2024
Under California law, a Small Estate Affidavit can be valid without the need for court filing if certain conditions are met. To use this affidavit, the total value of your brother's estate, including the life insurance policy proceeds, must be below a specific threshold. If the estate's... View More
My sister and I are both executors and only beneficiaries of my mom’s personal residence real estate. Pursuant the will, we each have a 50% interest. We are almost to the end of probate in Ca (Solano County). Getting ready to file the Order for Final Distribution. My sister wants to buy me out... View More
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answered on Jan 31, 2024
In California, a sibling-to-sibling transfer of a principal residence can be exempt from property tax reassessment under certain conditions. Since you and your sister are both executors and beneficiaries, it's possible to structure the buyout in a way that preserves the property tax exclusion.... View More
My sister is trustee of the trust, I have not seen the trust but I know about it because my mother told me. My sister and I don’t talk, but she has not performed her duties in distributing the trust
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answered on Jan 29, 2024
Under California law, as a beneficiary of a trust, you have certain rights when it comes to the administration of the trust. If the trustee, in this case, your sister, is not fulfilling her responsibilities, there are steps you can take to address this issue.
First, you have the right to... View More
The amount resting with the State of Ca is about $12-15K. It is a combination of Family Trust, Life insurance and stock dividends. How do I make my sister - the executor-deal with this. I have tried and tried to get her to do something, offered to help etc but she kept saying she "would get to... View More
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answered on Jan 27, 2024
Under California law, if assets from a Family Trust have escheated to the state, you can reclaim them through the State Controller's Office. This process involves filing a claim form, which requires proof of your entitlement to these assets. The form and guidance can be found on the California... View More
answered on Jan 26, 2024
Certainly, Sergio. Here's a revised version:
The accurate response hinges on the precise language outlined in the trust documents.
In our family, both sets of parents, including my in-laws, as well as my wife's and my revocable trusts, were structured identically. The... View More
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answered on Jan 26, 2024
In California, when one spouse dies, an A-B trust typically becomes irrevocable with respect to the deceased spouse's portion. This means the surviving spouse generally cannot change the terms of the deceased spouse's trust.
Your mother's portion of the trust should have been... View More
answered on Feb 2, 2024
A-B Trusts are common in blended family situations for this reason: In a traditional situation where a married couple has a standard revocable trust (NOT an A-B Trust), after the first spouse dies and leaves 100% of their assets to the other spouse, then the second spouse can do whatever they want... View More
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answered on Jan 26, 2024
In California, you can add a family member to a deed under joint ownership, and subsequently transfer your portion of the ownership into a living trust. To add a family member to the deed, you would typically use a grant deed or a quitclaim deed. This process involves preparing the deed, ensuring... View More
answered on Jan 26, 2024
Assuming you are the sole owner of the property, you can add whomever you'd like to your property. But beware, it may impact your property taxes. Double check with your accountant, so you understand the consequences of transferring real estate during your lifetime. It's often better to... View More
answered on Jan 26, 2024
If you're the sole property owner, adding someone to your California property is feasible, but it's essential to be mindful of potential impacts on property taxes. It's recommended to consult with your accountant to understand the ramifications of transferring real estate during your... View More
My wife and I we were caregivers for my mother and father. My father passed away, and my mother now lives in an assisted living home. My brother, the power of attorney has allegedly sold the house or told me and my wife that the house is sold. We’ve been given one week to move out, we were told... View More
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answered on Jan 26, 2024
In California, if your brother, as the power of attorney (POA) for your mother, has sold the house where you are living, it’s important to understand your rights in this situation. First, ensure that the POA was properly exercised in selling the house. The POA must act in the best interest of... View More
Bought it for 260,000, and sold it in 2024 for 1.3M. Her husband passed 7 years ago. She is 64 and only has income from SS at 24k a year. Lives in CA. Is it true that if she earns less than 47k in 2024, 44k in 2023 she will not have to pay any capital gains from the sale of her principal... View More
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answered on Jan 25, 2024
Under federal tax law, when selling a principal residence, an individual can exclude up to $250,000 of capital gains from their income if they meet certain conditions. Since your sister-in-law has owned and lived in the house for more than 2 out of the last 5 years, she qualifies for this... View More
Over time, his contact with me decreased and my life got busier with kids and work schedules. Last year, we hit rock bottom in our relationship. Unfortunately, I discovered last year (2023) that he had breached our agreement by transferring the property to his partner. Moreover, I learned he did... View More
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answered on Jan 23, 2024
To address a situation involving a quitclaim deed in California, the first step is to gather all relevant documents, including the quitclaim deed and any agreements or affidavits related to the property transfer. If you believe the transfer was made improperly or in violation of an agreement, you... View More
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