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.
Trust And Estate Administration
Q: If I am petitioning the court to become appointed the Executor, will I need to personally appear at any hearings?
A: You will usually not need to appear at hearings. Most courts in California use a tentative ruling system. This means that in the days before the hearing on a petition, the court will post its intended ruling on the petition. If the tentative ruling is to grant the...
Q: Why is it so important for an executor to hire an attorney when handling a probate?
A: Probate can be a daunting process, and it's important to have an experienced probate team to guide you through it. An attorney can help ensure all legal requirements are met, minimize potential disputes, reduce tax liabilities, and protect assets from potential...
Q: If I inherit my mom’s residence after she dies, can I rent it out and keep her really low property taxes?
A: Unfortunately, this is no longer possible under Prop 19, which went into effect on February 15, 2021. In order to qualify for the parent to child exclusion from reassessment, the property must be the parent's primary residence and also the primary residence of the...
Q: My mom recently passed away with a paid off home (worth $500,000) but owning no cash assets. Unfortunately, she also had $20,000 of credit card debt. Will I be forced to sell her house to pay off the debt?
A: Potentially. The bottom-line is this: creditors have first priority BEFORE any heirs/beneficiaries receive estate assets. Therefore, since your mom’s estate is solvent, the credit card company is entitled to be paid back in full. However, since your mom’s estate...
Q: Do I still “own” my house if there is a mortgage on it?
A: Yes you do! And more importantly, without a trust, the probate laws of California would not only consider you the owner of the property at your death, but would also charge your heirs probate fees based on the fair market value of the home and NOT on the amount of...
Q: I’m the successor trustee of my parents’ trust. Am I required to provide a full accounting to the other trust beneficiaries?
A: It depends! Although the law does give all the trust beneficiaries the right to receive a full accounting, if all of the beneficiaries agree in writing to waive their right, then you will not need to prepare one.
Q: My mom recently died with more debts than assets. Am I personally liable to pay all of my mom’s debts now?
A: No you are not! In California, the creditor’s of a decedent are paid first out of the decedent's remaining assets before any distributions are made to heirs. In other words, although you won't be receiving any inheritance from your mom's estate, you will not have...
Q: My mother recently passed away and now I am the Successor Trustee of her trust. In a nutshell, what are my primary duties as the Successor Trustee?
A: The three primary duties you will have are the following: (1) the collection, safeguarding and evaluation of the Trust Estate assets; (2) the payment of debts and liabilities of the Trust; and (3) the timely distribution of the remaining Trust assets to the...
Q: My husband recently passed away. How long do I have to make the portability election with the IRS?
A: On July 8, 2022, the IRS issued a new procedure that can be used to extend estate tax portability for up to five years after the death of a spouse. Having said that, in order to ensure timeliness and compliance with various tax requirements, we always recommend...
