Search Results for: revocable living trusts

What Happens When CA Property Is Not Deeded Into a Living Trust

Revocable Living Trusts are popular in California and a way that lots of people hold title to their real estate and other assets. However, some people forget or neglect to transfer their assets into that trust. Example is that a … Continue reading

Posted in California laws, California real estate, California real estate laws, Estate planning, Taxes and estate planning, Trust & Probate Property | Tagged , , , , , , , , , , , , , , , , | Leave a comment

California Revocable Trust Creation

Creation of a California Revocable Trust A “trust” is not a “will”, which is a separate document that would be included in your estate plan. A trust is not officially a contract or agreement, but it has that same impact. A trust is … Continue reading

Leave a comment

Living Trust Checklist

Things for you to consider and do about creation of a Living Trust 1.  Decide if you need a shared trust or an individual trust. If you are married or in a domestic partnership and you and your spouse or … Continue reading

Leave a comment

Trusts

What is a TRUST? A TRUST is when one person (trustee) holds title to property for the benefit of another person (the beneficiary). A person called the settlor (or trustor) creates the trust and puts the property in the trust. The … Continue reading

Leave a comment

Does a Will Cover Everything I Own?

Does a Will Cover Everything I Own? No. Generally speaking, your will affects only those assets that are titled in your name at your death. Those assets that are not affected by your will include Life insurance. The cash proceeds … Continue reading

Posted in California real estate, California real estate laws, California taxes, Estate planning, Taxes and estate planning, Trust & Probate Property | Tagged , , , , , , , , , , , , , , | Leave a comment

Does a Will Cover Everything I Own?

Does a Will Cover Everything I Own?  No. Generally speaking, your will affects only those assets that are titled in your name at your death. Those assets that are not affected by your will include Life insurance. The cash proceeds … Continue reading

Leave a comment

Selling Decedent Estate Property at Orange County CA – Part One

Experienced REALTORs® and real estate professionals in California who help trustees, decedent estate representatives, executors and administrators, to sell real property are familiar that good estate planning, including use of a REVOCABLE LIVING TRUST, transfer of property to such trusts, and why that’s important. When property in California is transferred … Continue reading

Posted in Decedent estate property, OC home value guide, OC property value guide, Orange County home values, Probate properties, Trust & Probate Property | Tagged , , , , , , , , , , , , , , | 1 Comment

Interpretation of the Trust or Administration

Court can help if you have question on interpretation of the trust or how it is administered. Unless the trust is revocable, a trustee or beneficiary can petition the Court about the internal affairs of the trust or to ask … Continue reading

Leave a comment

If Trust Settler or Beneficiary Owes You Money

If trust settlor or a beneficiary of a trust owes you money If the trust document says that a beneficiary’s share of the trust income or principal cannot be transferred (a spendthrift provision), you cannot collect money owed to you … Continue reading

Leave a comment

Can a trustee resign?

Can a Trustee resign?   Yes.   If a trustee wants to resign, s/he can do so:  As explained in the trust document; If the trust is revocable, by getting the person who has the power to revoke the trust to consent; … Continue reading

Leave a comment