Diedre Wachbrit Braverman's Answers

Is property in a revocable trust for a California married couple considered community property for income tax purposes?

Your trust document itself may provide the answer. In our trust documents, we usually include a statement that separate property transferred into the trust retains its separate character; likewise with community property. We also include three Schedules of Assets at the back of the trust to make your intentions clear to the IRS: (1) a schedule of community property assets, (2) a schedule of husband's separate property assets, and (3) a schedule of wife's separate property assets. Absent an...

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How to transfer a rental property to LLC to protect other assets in California?

Although your loan probably requires you to get your lender's consent, the fact is that in twelve years of practice I have never seen a lender take any action based on a transfer to a Limited Liability Company. In the worst case scenario, they can force you to get a new loan at a higher interest rate but I've never seen it happen.

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How do I apply for a limited conservetorship in the state of California

The Limited Conservatorship is designed for adults who are developmentally disabled. If your mother's incapacity arose later in life, you need to seek a General Conservatorship. The procedure is to apply for the Conservatorship, describing all of your mother's limitations in detail. You will pay a filing fee when you file your petition. You will need to publish notice of the proposed conservatorship. There are some newspapers in Los Angeles that are far less expensive than the L.A. Times...

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My mother in law pass late Feb, Do my husban have to right to see her will, ? dose the over seer have to fill papers any where/

I am sorry for your and your husband's loss. Your straight-forward question calls for a complex answer so bear with me. The people (your husband's older brothers) who have physical custody of the will have a duty under California law to lodge the will with the appropriate court within 30 days of your mother-in-law's death. If they don't you can go to court to get an Order to force them to lodge the will. Once the will is lodged, anyone can get a copy of it from the court (including you)....

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I have a rental agreement,but ?

Real estate of a deceased person must be probated to change the name of the owner (unless it's worth less than $20k) if there is no estate plan in California. Once the heir has probated the real estate, you can immediately buy it from her for whatever price the two of you agree upon, even $1. Probate can take a long time, but if you hire an attorney who is focused on doing it quickly, it can be completed in as little as six months. Please feel free to contact me directly for more details at...

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California probate law 6241, does this last modification give an executor the power to make non pro rata real estate distributio

California Probate Code 6241 only sets out the mandatory provisions that MUST be included if one is to create a STATUTORY will. It does not control any other kind of will. It sounds like the will you are dealing with is not a statutory will. The Executor would do best to state his or her intention in their Petition for Final Distribution. If no one objects, the court will probably allow the distributions to be non-pro-rata. However, if any of the beneficiaries object (those receiving the...

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What's the current limit on P.O.D.(payable on death or TOD transfer on death) assets for probate not to be required in CA?

Just adding a little more context: Payable on Death assets avoid probate completely but they do NOT avoid conservatorship if the owner of the asset becomes incapacitated. Conservatorship is when the court appoints a person to make personal and financial decisions for you, taking away some of your civil rights, because you are incapacitated. You MAY be able to avoid conservatorship if you have validly drawn powers of attorney but they tend to be difficult and expensive to get honored....

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Mom is 90yr. She forgets, dementia I feel. 3 Grandkids taking her $$ What is the process for guardianship,is that best solution?

A Conservatorship (a guardianship for an adult) will put you in control of Mom's money so that you can tell the grandkids "no!" Yes, you have to go to court but only once. And Mom doesn't have to go. Additionally, I would contact Adult Protective Services regarding the abuse so that the police can stop the youngest from continuing to abuse her. Finally, you could probably get a judgment against all three under Elder Abuse laws but my guess is that none of them has any money to pay a...

How can I get a 1099 from my mo's uncooperative brokerage? My mom died on 1-15-10. Her estate will not be probated.

If your mother's total estate is under one hundred thousand dollars and doesn't include real estate, then the brokerage must accept a Small Estate Affidavit instead of the Letters of Administration. In fact, some brokerages will even send you the form for free. Once the Small Estate Affidavit is signed by all of the heirs, they will be entitled to inherit the account (as well as get the 1099). If you need more help, please feel free to contact me directly at diedre@wachbrit.com.

My father has a living trust and passed away. The art and coins that he collected are not listed in the trust.

I would add to Counselor Brewer's answer that your father's estate plan may have included a document entitled "Assignment of Personal Property" or "Comprehensive Transfer of Assets" or something to that effect. If so, it may specifically list that items like household furnishings, clothes, coins and other "tangible personal property" is thereby transferred to the trust. This type of document is a standard part of many attorney's estate plans so look through your father's entire estate...