How to Bequeath Inheritors their Property?
It is a question many of us ask ourselves, but we are not entirely sure what the implications are. Especially when you own real property in California.
Prepare deeds, affidavits, and trusts for real property. Attorney is Mark W. Bidwell. To start, call 714-846-2888. Email Mark@DeedAndRecord.com. Office is in Huntington Beach, California
It is a question many of us ask ourselves, but we are not entirely sure what the implications are. Especially when you own real property in California.
How do California Property Rights Work in a Marriage? One thing people do not give much thought to when marrying is property rights. However, property rights are a tricky element in any marriage and often a major contention in divorce. In California, it essentially comes down to separate and community property. Knowing the differences between …
This article asks is it better to gift or bequest your California home? We review the factors of tax, family dynamics, and law .
You need a deed from yourself to yourself as trustee to avoid probate. The deed is recorded in the county where your home is located. Often, online trusts omit a crucial step. The omitted step is the transfer of real property into the online trust. Transfer is by a deed from yourself to yourself as …
The unintended consequences of adding a co-owner to real property are unfavorable tax treatment, exposure to the new owner’s creditors, relinquished control to sell and mortgage the real property, and failure to transfer due to an unplanned order of death. Revocable Transfer on Death Deeds (TODD) and revocable living trusts are better alternatives to adding …
When purchasing real property in California, the buyer is asked, “How do you want to own your home?” How you own your California home determines how it will transfer on your death. In other words, will the post-death transfer be in or out of probate court? Real property in your name only requires transfer to …
Often, a homeowner adds their heir as a joint tenant owner to avoid probate. A joint tenant owner can create problems. There are better alternatives. Revocable Transfer on Death Deeds (TODD) and revocable living trusts are good alternatives to joint tenancy. Revocable Transfer on Death Deeds (TODD) A TODD does not change ownership and, as …
Most people in California create a trust to avoid probate. But a person cannot just create trust; the trust must also be “funded.”
A sole owner wants to add an owner to avoid probate. This post identifies the surprises and perils for non-spouse, joint tenant owners and viable alternatives.
Examples of planning are; trusts, joint ownership, lifetime transfers, and revocable transfer on death deeds. No planning relies on the probate court for help