If you own California real estate, you should establish a living trust and transfer all your real estate and other assets to the trust. It will save your family a great deal of stress, a lot of time and thousands of dollars in legal costs at the time of your death, by avoiding probate. A […]
Avoid 3 Common Real Estate Tax Pitfalls in Property Inherited by Your Child
Advice from a San Diego Estate Planning Attorney: There are Huge Real Estate Tax Savings Available to Property Inherited by a Child if You Avoid 3 Common Pitfalls Proposition 13 affords great real estate tax savings when a child inherits a home directly from her parents. California law permits real estate to be passed from […]
You’ve Moved: Now What?
We live in an extremely mobile society. Americans move on average once every seven years and many people choose to relocate to the San Diego area because of the beautiful weather and positive lifestyle. If you’ve moved to California from another state and haven’t had your estate plan reviewed, please contact your estate planning attorney […]
But, I Don’t Want to Inherit!
Believe it or not, you are not alone. We do hear the question, “What do I do if I don’t want to inherit something” in our office periodically. Beneficiaries disclaim for various reasons. For instance, they want the assets to go to someone else such as the deceased’s children; they don’t want to take responsibility […]
Can We Refinance Our House? It’s Titled in the Name of Our Trust?
With mortgage rates at historic lows, we have been getting asked this question quite a bit: “Can we refinance our house that’s titled in the name of our trust?” The answer is: Absolutely! Contact your estate planning attorney if are not sure how your house is titled. By all means, apply for the new loan. […]
What is the Difference in Joint Tenancy and Tenants in Common?
The designation of joint tenancy or tenants in common is generally related to real estate matters. This designation deals with how the real property is titled. Joint tenancy gives the right of survivorship. This means that if one party dies, the property or bank account is automatically considered to belong to the surviving partner. Joint […]
What Is Community Property With Rights of Survivorship?
When married people hold property outright, they will generally hold the title as either joint tenants with rights of survivorship or as community property. Joint tenancy is concurrent ownership, meaning two or more people own the property at the same time. The most compelling feature of a joint tenancy designation is the right to survivorship, […]