How can I tell if the deed is a valid legal transfer of ownership WHAT IS A DEED? A deed is the legal name for the document which transfers ownership of real estate. California state law has specific requirements for a deed to be valid. In a typical home sale…
What To Do When Someone Lacks Mental or Physical Capacity? WHAT IS A CONSERVATORSHIP? A conservatorship is a court proceeding to protect a person and/or his or her property. Conservatorships are regulated by the California probate code and operate under the supervision of the probate court system. The person protected…
Can I give everything to the “love of my life” and keep it secret? NO DISCLOSURE TO OMITTED HEIRS? Up until 1997 a person could legally change his or her estate plan and the people previously benefited did not have any legal way to find out what the situation was.…
Resolving Conflicting Ownership and Lien Claims to Real Estate What to do to be Able to Close Escrow On a Sale or Loan HOW REAL ESTATE OWNERSHIP RECORDS ARE ORGANIZED Ownership is kept track of by the County recorder of each County. When properties are sold or transferred, a legal…
How Does the Successor Trustee Handle the Bills and Debts of the Deceased Trustor? LIVING TRUST ADMINISTRATION If there is a living trust and all of the deceased person’s assets have been placed into the living trust prior to death, there is no need for a probate court administration. Creditor…
INCOME TAX & PROPERTY TAX TRAP FOR PREMATURE GIFT OF HOUSE WAYS TO HANDLE THE FAMILY HOME TRANSFER Retired couples typically have choices about how to pass on the family home. Might they make a mistake and give away the house too soon? They could sell the home and put…
WHY DID THE TRUSTEE PAY ALL THAT MONEY TO HIMSELF? WHAT ARE TRUSTEE FEES? A trust is typically established by a document known as a declaration of trust will which is a document with instructions for how the trust assets are to be handled. The declaration of trust also identifies…
Define Who Will Take Over and Control the Trust After the Trust Creators are Gone TRUST CONTINUES AFTER DEATH OF CREATORS A trust that is typically established to plan for distribution of family assets to the next generation has provisions for successor trustees. Initially, the trust creators, who are known…
Define WHO the Children are in the Trust or Face Expensive Uncertainty The BASIC PURPOSE of a Trust in Estate Planning A trust that is typically used to plan for asset transfer for the next generation is known as a “living trust” and is revocable and changeable during the lifetimes…
A Trust Can Be Set Aside and Disregarded if a Court Finds that a Trust Maker Lacked Capacity PRESUMPTION OF CAPACITY California law presumes that everyone has the mental capacity to make a trust. Thus, if someone challenges a trust in court for lack of mental capacity it is up…