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CA estate planning laws, setting up a revocable trust
Upland, CA
Viewed 337 times.
Posted 12 months ago in Estate Planning
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Estate planning:
I have been living with my mother for over 4 years, to help her physically and finacially. She says the house will go to me (not my sister) when she dies. She hasa revocable trust, with the county.
I was wondering if it would be better to have my name put on the house, with hers. We live in California. Thank you. - Is this your question? Add additional information Answers (4)Frank A Selden
This attorney is licensed in Washington.
Posted 12 months ago.
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Two very different approaches. Having the house in the revocable trust means that the trust needs to own it, the house is managed by the trustee(s) for the exclusive benefit of the beneficiaries and, most importantly in CA, avoids probate if a trustee or beneficiary dies. Having your name on the house makes you a part owner but does not automatically transfer your mother's half of the house to you at her passing. Her will and the probate process would control.
Which one is better depends on various values both yours and hers. There are a few other ramifications which are more complicated and best addressed with an estate planning attorney in your area.
Thomas Glenn Martin
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