QUESTION
Will Tangible & Intangible Property Coverage in Living Trust take care of any real estate property?
Asked on Jun 03rd, 2013 on Estate Planning - California
More details to this question:
Using Rocket Lawyer for a Living Trust, under section 5 (V) of the Living Trust, it states that tangible personal property like furniture will transfer, but where does it state where intangible property like real estate property or bank account transfer goes to? I have filled out a “Pour-Over” will now titled “Last Will and Testament”. Do I even need a pour-over will for the real estate property?
4 ANSWERS
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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You are advised to seek the assistance of Rocket Lawyer, since you don't want to pay for the assistance of a good estate planning lawyer.
Answered on Jun 05th, 2013 at 7:49 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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Real estate is not intangible property. It is real property. You need a pour-over will only for property not in the trust that you want to leave to the trust.
Answered on Jun 05th, 2013 at 7:48 PM
2 Awards
Sounds like you need to have an attorney draft your estate plan. It is not appropriate for an attorney to walk you through a rocket lawyer trust.
Answered on Jun 05th, 2013 at 7:48 PM
Agriculture Attorney serving Fresno, CA
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The Law Offices of Tres A. Porter
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Stop, stop, stop....You should consult with an estate planning/probate attorney in your area immediately. Do it yourself is not a good idea for things like your estate plan, especially if you own real property.
Answered on Jun 05th, 2013 at 7:48 PM