First, please know that no one has an automatic right to another person’s assets. If a parent chooses not to give money to one child or another, the parent has that right — just like you have the right to choose to whom you want to give your assets. There is no law forcing anyone to give their...Read more »
I am listed as the trustee after my mom who is deceased. My grandparents trust only lists their children, my mom (deceased) and my aunt. I can find nothing on the trust that lists a 'beneficiary'. I am assuming that my aunt is a beneficiary and is entitled to half the value of the... Read more »
I'm sorry to hear about your mom's passing. I recommend that you have an attorney review the estate planning documents to help you understand the content. Due to COVID, it may be best to scan the documents so that they can be emailed to an attorney for review. It is also a good idea to...Read more »
There is a 2nd adult daughter that he is excluding. How can he do this? Will a quit claim deed suffice? I believe the house is free and clear. Hispanic family but full citizenship. Please advise me what to tell him or where I can send him for legal advice. He is definitely low income.
It’s almost always better to give real estate to children through a trust at death than to give it to them during the parent’s life because the taxes will be so much higher. If your home has not gone up in value since you bought it, or you have a high tax basis on the home, you can weigh the...Read more »
Trusts and estate plans need maintenance just like a car or home. It sounds like your mom's estate plan needs some attention now that the house has been sold. A properly created trust typically remains valid even if no property is currently contained in the trust. Your mother can set up a...Read more »
My girlfriend and I bought a house and she is the one who is on the title I have put $100,000 so far into this home increasing property value and plan to put much more into it. I am worried that if something happens and we split I will be out of everything I put in. What can I do to bind a contract... Read more »
You are very wise to be concerned about this. There is more than one way to handle this, and the correct choice depends on a lot of factors that you should discuss with an attorney. Maybe you need to be put on title with a percentage interest in the house. Or, maybe you should have your...Read more »
Your ex boyfriend cannot sell or take the home from the biological oldest daughter, especially without a court order to do so. If your father's property was in a Trust, then the Trust will say what happens to the house now that your father passed. If the property was not in a Trust, then I...Read more »
My brother took inheritance advances and then stopped communicating with myself and the court; he and his lawyer have since been removed under CA PROB §8500. I am now the only heir to the estate and would like to know if the estate will still be liable for the inheritance advances that my brother... Read more »
Your question is not entirely clear because you are using some incorrect legal terms. The person in charge of administering an estate (the "Administrator" of the estate) is the person whose job it is to pay the decedent's final bills, ensure the final tax return is filed, and do many...Read more »
My niece is 38 yrs old, parents died in accident at 15 months old. Money was left for her, but didn't know. Has a statute of limitations run out on her ability to get restitution? Thank you for any help you can give me so we can guide her in whether to pursue civil action.
The answer to your questions would depend on a number of facts that are not included in your question. For example, was the money was left in a trust and, if so, what did the trust document say the money had to be used for? If the money was left in a trust and the trust document said the money...Read more »
That depends on how the deed is worded. If it lists you as a joint tenant with rights of survivorship then you are now the full owner and skip Probate, but you need to file an affidavit with the county clerk and show them the death certificate to get the house recorded in your name alone....Read more »
The original settler is deceased. The trustee has power to distribute his 1/3 of income and principal to himself. The question is whether the Trustee-beneficiary is considered a substantial owner under IRC 678(a)(1) and therefore taxed currently on his 1/3 of trust income.
It is most likely a non-grantor trust, but there is no way to know unless a lawyer reads the terms of your particular trust. Each trust contains different language. The main question will be whether the settlor/grantor of the trust has any control or powers. Take your trust to an attorney in your...Read more »
I am trying to use her funds to pay her bills after she passed away this thanksgiving...Please advise
I have the trust papers designating me as her trust successor. what is the process for closing out her bank accounts and certificates of deposit? transferring her real property so that I... Read more »
You're asking how to administer a trust, which is a detailed process that cannot be easily explained in a sentence or two. This website is meant for quick questions and answers, not explaining a five month process that involves formal notices required by law (the content of which is very...Read more »
In California, Mobile Homes are registered through the Department of Housing and Urban Development. You should contact If there is a transfer on death beneficiary designated on the title of the Mobile Home, you can use the Department's internal form to transfer title.
1. My Ex-wife is living in Korea and will need to complete it there designating our son as her PoA representative. Can a notary at the US Embassy sign the form or does the notary have to be from California?
2. If she completes the form can a scanned and printed copy be used by my son to... Read more »
When an individual signs a US document in a foreign country that would typically require a notarization, they should seek the assistance of the local US Embassy who will provide the equivalent of a local notarization. Once that is completed, a good quality scan should be all that any institution...Read more »
Generally, the executor named in the will, will have to file a probate with the Superior Court of the county that your mother lived in when she died. Pursuant to that, there would be a hearing appointing the executor after notice to certain persons. Soon thereafter, the executor would file an...Read more »
My living trust was created in the past, and it already includes my rental property. Next year, I want to create an LLC for my rental property. After the LLC is created, do I have to add the LLC into my trust?
Yes, you would convey the renal home from your trust to your LLC and that would constitute your capital contribution to your LLC. But do not do anything without the assistance of counsel. A lot of people create LLCs on their own without fully understanding what they are getting into and they end up...Read more »
And attorney would need to review your order appointing you conservator to see what it covers, but most likely yes, you can do that. Be sure to hire an eviction attorney to help you with that. The process and the rules are surprisingly complicated.
You do not need to probate the estate due to the house, but you may need to probate his estate IF (1) he did not have a trust and the value of his probatable assets is $166,250 or higher; or (2) if the value of his probatable assets are less than $166,250. There isn't enough information in...Read more »
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