QUESTION
What is the best thing to do to make sure the house go to her 7 children and not get caught up in court?
Asked on Jun 22nd, 2016 on Estate Planning - California
More details to this question:
My mother and father is on the deed, yet my father passed away in 2011 with no will. I understand that to be called, intestate inheritance statute. My mother is now terminal with cancer and never prepared a will either.
3 ANSWERS
The property will go equally to each of the seven children but to transfer title it must go through probate. Depending on the value of all the assets, you might be able to use the faster small probate procedures. She could set up a trust leaving the property equally to all the children upon her death, but title to the house must be transferred to the Trust. If that is really the only asset, you might be able to do it yourself, but you should first spend several hundred dollars to speak with a trust and probate attorney to find out what the tax consequence is.
Answered on Jul 22nd, 2016 at 6:14 PM
She should prepare a trust immediately.
Answered on Jul 22nd, 2016 at 6:13 PM
Edwin K. Niles
Either with or without a will, the property could go to the children, but subject to Probate, which you want to avoid. Mom needs a trust, prepared by an experienced lawyer. It?s probably NOT a good idea for Mom to transfer the property during her lifetime to the children, for tax reasons.
Answered on Jul 22nd, 2016 at 6:13 PM