Rose Law Firm of Napa Valley, Inc.

Q: My mom recently died without a will and had a vacant parcel of land in Modoc County worth about $10,000. Can my sister and I transfer title to ourselves without a probate?

A: Yes! Assuming your mother didn't have any other probatable assets, you and your sister can file with the court a Form DE-305 in the County where the land is located to have the property title transferred without probate.

Q: I transferred title to my current home to my trust when my trust was created. I am now selling my home and and am purchasing a new one. How should I take title to my new home?

A: You should take title to your new home in the same way that you hold title to your current home - as trustee of your trust. This will ensure that your new home is a trust asset and that it is not at risk of going through probate to be administered after your death....

Q: My husband and I completed our trust 10 years ago when we only owned our primary residence. In the next 6-12 months we are planning on making an offer on a rental property. Will we need to make any changes or updates to the trust once we complete that purchase?

A: Yes and no. First, let’s clarify the difference between a trust amendment and trust funding. An amendment is when you actually change the terms of the trust itself; this may be removing a particular successor trustee, or adding a new beneficiary, for example....

Q: If my spouse and I purchased our home in 1976 and are on title as joint tenants, what can we do to reduce the taxes the survivor would have to pay if they ever decided to sell the property after one of us passed away?

A: You and your spouse should not only create a trust, but should also sign a Community Property Agreement. In California, which is a community property state, confirming their assets as community property could save the surviving spouse as much as six figures in...

Q: My spouse and I want to create a trust, but we aren’t sure if our family is complete yet. If we create a trust now, will we need to change it if we have more children in the future?

A: No, your trust can be created to include any children you have now and any children that you may have in the future. Amending your trust in the future is an option if you want to change any of its provisions, but you can rest assured that it can be created...