California home divided in the divorce: now what happens?
You reached a settlement agreement. Your California home, divided in the divorce, is now owned by one spouse. But how do you update the county’s records?
Monthly archives: March, 2023
What You Need to Know About Post-death Trust Administration in California
The trustee manages and distributes trust assets in post-death trust administration in California. A trustee has fiduciary duties to administer the trust according to the trust’s terms and California law. The trustee assumes personally liable to beneficiaries of the trust for any breach of his or her fiduciary duties. A trustee’s duties will vary depending …
How to Avoid California Probate in Four Steps
Estate planning is an essential part of life. Planning ensures that your assets are distributed according to your wishes after you pass away. Planning avoids probate. Probate is the legal process by which a court oversees the distribution of your assets after your death. Probate is long and expensive. Best to avoid it if possible. …
How to Identify Your Tier of California Probate Court Involvement
Real property owned by one person ends up in probate. Probate is a set of laws the California courts follow to transfer real property from a decedent to his or her heirs. California has three tiers of California probate court involvement based on the market value of the real property. The more involved, the greater …
How to change an owner of a Las Vegas timeshare
Deed and Record prepares and e-records deeds to change an owner of a Las Vegas timeshare. Change is needed because of marriage, divorce, gifts, and trusts to add a co-owner and to remove a co-owner. Change of owners is by deed. A deed is a piece of paper with the owner’s signature stating the current …
How to update owners of California real property
No office visit is needed. Documents are exchanged by email and mail.
How Your Marriage Avoids Probate in California
The best option is a trust. A simpler option is as “community property with the right of survivorship.”
California has a default will for you, intestacy.
WIthout a will or trust, California laws of intestacy identify who are your heirs.
What is best, lifetime gifts or death transfers
Hint, it is not gifts in this author’s opinion.
This article looks at the tax burden and loss of control for gifts compared to post death transfers.
How to co-own your home in California
How to co-own your home in California is a decision with consequences. What happens if you were to die or divorce is heavily dependent on this decision. Options to own are; in name only, with the right of survivorship, as a trust, or as a business entity. Transfer on Death The major distinction between these …