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Our deceased parents (died in 2015) California house is still in that trust and qualifies for Proposition 13 taxes rates. What happens to the property tax rates if we rent out the house, still owned by the trust?
answered on Jan 31, 2025
Everyone who buys real estate in qualifies for Proposition 13. There have been attacks on Prop. 13 ever since it was passed including a false claim that Prop. 13 only applies to people who bought homes in the 1970’s. That is NOT accurate. Everyone who buys real estate in California qualifies.... View More 
My deceased father is named as a beneficiary on my deceased grandmother’s living trust and my uncle is also named. Would his children be able to inherit his share or would it go to my uncle? This is happening in California. I know the trust language matters and I should look for “per stirpes”... View More
answered on Jan 27, 2025
Please know people can do whatever they want with the assets they own. There is no automatic right for children to inherit their parents’ assets. You can do whatever you want with the things you own; no one can require you to spend it or give your assets to a particular person or entity —... View More
No owned property, my father had a mobile home titled through CA DMV which transferred to myself on the Title after his passing. He had no vehicles, no assets. I have contacted all of his creditors there will be no probate, and no assets to collect from. One creditor filed form DE-172 and mailed... View More
answered on Jan 24, 2025
When someone passes away, all debts must be paid and final tax returns filed BEFORE anyone can inherit the deceased person’s assets. There are a few exceptions to this rule, such as assets titled in joint tenancy, but I wouldn’t know if any of the exceptions apply because there isn’t enough... View More
Her Part and my mom has a living trust and am her benificary. Can my aunt still evict me out of the property even thought my mother wants me to stay
answered on Jan 23, 2025
The answer to your question will depend on the language in the two trusts you mentioned. I have several points that may help.
First, people cannot control something they don't own. I cannot control who gets to use your car because I don't own it. In your situation: (1) your mother... View More
My father and aunt were named as getting his house. My dad has been living in it. He just passed recently himself and we are trying to figure out if my grandpas will needs to be filled, should be filled, and ultimately what happens to the house.
answered on Jan 22, 2025
What happens to the house depends on a few factors. First, the way in which the deed was drafted may have an effect on the ownership of the house. If any other individuals were listed as joint tenants with right of survivorship or as tenants in common, then the property may pass wholly or partly to... View More
There are 5 beneficiaries including myself. Her properties were left to me and the funds in her accounts will be split 5 ways. The attorney has not been much help to me and rarely gets back to me. He advised me to make necessary repairs in the beginning as the properties are rentals and in very,... View More
answered on Jan 30, 2025
I am sorry to hear you are in this situation. Many trustees are left in untenable financial situations without clear options, and you are not the first successor trustee to consider using their own funds to cover trust expenses.
The trusts expenses are absolutely not your personal... View More
their house (in CA) is in the trust. 2 years ago dad died and mom declared incompetent (dementia), at that time an estate plan lawyer did the trust certification that brother and I are now the succesor trustees-but (i think) our names werent put on the title yet, A refinancing was done last year to... View More
answered on Jan 13, 2025
The lawyer is right if neither your brother or you will move into the home and make it your primary residence. This resulted from a ballot initiative a few years ago that was called, in essence, the Home Protection for Severely Disabled, Elderly and Victims of Natural Disasters, otherwise known as... View More
She says there's no will & she tells me to be out so she can sell it. I'm located in Hemet CA
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answered on Dec 23, 2024
If there is no will, she definitely isn't an executor as an executor is only appointed through a will. If she is the court appointed estate representative of your deceased parent's estate, she can only remove you with a court order. At some point in time, she can can remove you though and... View More
Yes, I'm going to work with a lawyer. I'm just trying to be informed and have some understanding.
Parents trust is old (2003) and says *if* the trust estate exceeds the estate tax exemption, then create A/B trusts. B trust gets lesser of 1/2 of estate or the estate tax exemption.... View More
answered on Dec 19, 2024
Lawyers cannot give opinions on trusts, contracts or other specific legal documents without reading the document. It's like giving someone a few pages out of a book and asking what the outcome will be. I'm sorry about that! Terms can be defined differently from one trust to another, so... View More
Our irreversible trust provides that our daughter gets our home. She is of the opinion that she wants us to be able to sell the home to -rovide for senior care and residential care.
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answered on Dec 16, 2024
Often the whole point of an irrevocable trust is to avoid having to sell the home to pay for care, thus ensuring that your children will at least inherit the home if nothing else. Your care is paid for out of savings and when that runs out then Medicaid picks up the tab. When you pass your... View More
Three of us joint tenants in California would like to put our home in the family living trust.
We plan on keeping our home in our family for generations to come.
Do you recommend one deed over another: grant, warranty, quitclaim, etc.?
Can any of the deeds cause issues for... View More
answered on Dec 13, 2024
Two quick points. First, each person needs his/her/their own trust. Person A should not put their asset into Person B's trust. Person B should put their share of the property into Person B's own trust. Second, if you don't prepare the documents EXACTLY as required by law and county... View More
My aunt passed away recently. Not rushing for the money, just have been told so many different things/answers. Will her estate be distributed between living siblings only or will funds be distributed to deceased siblings via their children, as well? Everything is in California, There is no trust,... View More
answered on Dec 10, 2024
Lawyers would need a lot more information before they could answer to your question. For example:
* Did your aunt live in California? [Laws are different in different states.]
* Did your aunt have a Trust?
* Did she have a Will?
* What is the dollar... View More
The power of attorney states that it will continue to be effective even though I become incapacitated.
Does this obviate the need for a court appointed conservator in the event I become incapacitated?
Thanks.
Sam
answered on Dec 4, 2024
Please know that every Power of Attorney contains different language, so lawyers cannot give an opinion about a Power of Attorney without reading the particular document in question. Also, there are different types of POAs. A Durable Power of Attorney is set up to cover situations of incapacity.... View More
house. Can I avoid property tax? Both of our name is on the grant deed.
answered on Dec 3, 2024
Unfortunately, almost all exchanges of real estate in California will cause the property tax rate to increase. There are VERY FEW exceptions (one such exception applies when a person transfers real estate to their spouse.) There are no exceptions for property transfers to siblings, cousins,... View More
We already lived with her for about a year because she was sick and needed our help. She was too sick at the end and she passed before she could make a quick deed. My husband also got very sick and couldn't take care of the title change yet. What does he have to do to get the deed in his name?... View More
answered on Nov 18, 2024
Yes, if the current deed (that the mom had upon death) is not held in joint tenancy or designated "transfer on death", then probate will be necessary to have it put in your husband's name. The sooner he gets started the better. The City may accept his permission once he is appointed... View More
I am dealing with potential forgery, fraud, and mismanagement of a Trust established for myself in which I am categorized under a ‘Special Needs Trust’ that does not reflect my circumstances. There's discrepancies; absence of my signature, false info, multiple drafts, fraud and complete... View More
answered on Nov 15, 2024
Few lawyers want to take on a client who has already met with a number of lawyers, all of whom passed on the case. Lawyers would likely assume all of the attorneys who reviewed the case saw something they didn’t like, so why would my review of it be any different? Meeting with a lot of attorneys... View More
my sister is the executor of the trust she has not communicated with me at all I'm a beneficiary along with three siblings I can not afford a probate lawyer or file a petition to the court regarding her I feel she is holding a lot of information from me I feel she is not going to be fair when... View More
answered on Nov 14, 2024
Not that it is important for purposes of this question and answer, but the legal term "Executor" is title of the person responsible for following the terms of a WILL. The title of a person responsible for following the terms of a TRUST and fulfilling all the obligations set by law is... View More
My mom passed away and I am the trustee of her trust. I am sending out the notification by trustee under probate code section 16061.7. I am also sending out a waiver form to the beneficiaries if any wish to waive the 120 days for contesting the trust. I understand that all the beneficiaries would... View More
answered on Nov 13, 2024
You seem to be jumping from step 2 to step 12. There is A LOT of work that must be done before assets can be distributed to the beneficiaries named in the trust. I understand that everyone wants their inheritance ASAP, which is the case in 99% of trust administration matters. However, the law... View More
The company offers gift pre-planning for up to 30 years in advance for customers' children and grandchildren, and even skip-generation. The company is almost acting as a trust / an account where the company will withdraw money to gift to their descendants after the person's death. Can... View More
answered on Nov 10, 2024
It depends on what you mean by the term “partner.” Lawyers define the term as someone in a limited partnership or general partnership. The ethics code prohibits lawyers from splitting profits with non-lawyers in almost all circumstances. So, if you are asking whether lawyers can be in a... View More
Living trust has stocks worth 1.5 million. The financial institution wants to divide all stocks and move into beneficiaries account. When beneficiaries sell stock do they pay capital gains from stocks original purpose or from date received forward? Or is it better to sell all stocks and distribute... View More
answered on Nov 4, 2024
The legal term “Trustee” is the title of the person with the right to handle assets in the trust and who must fulfill all the legal duties associated with that right. The word “Co-Trustee” means there are two people serving together as Trustees. They may have to do everything together or... View More
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