On Probates and Trusts

Probate occurs when a homeowner dies without a trust and by default leaves a home to an heir. This means (in many cases) that an estate attorney or representative may need to help family members sell the property. Of course, these scenarios can vary widely which is why I became a Certified Probate and Trust Specialist through the California Association of REALTORS^®.

On July 12, 2021 Kate Dore, CFP^® with CNBC reported  that “nearly 45 million U.S. households will transfer more than $68 trillion over the next 25 years, according to Cerulli Associates. Baby boomers hold the bulk of the wealth, thanks to a decade of stock market and real estate growth.”

She goes on to report that “President Joe Biden, meanwhile, has called for levy hikes on the wealthy, including raising the top tax rate, bumping levies on capital gains and taxing inherited property at death.”

Life happens… How will you pass on your legacy? How will a family member or friend? Through a Trust? Through Probate? Be prepared for when the time comes. Call me and we can discuss:

• The Purpose of Probate
• 9 exceptions to Probate
• Inventory and Appraisal
• Orders for probate and letters
• Different ways of holding title
• The sale of real property in probate
• Full authority vs. limited authority
• Which necessary legal documents are used in probate
• Factors affecting homeowner’s tax obligations
• Estate taxes, Capital gain and California property taxes
• Parent-Child/Garandparent-grandchild transfer exclusion
• Change in Ownership statement – Death of a real property owner
• How homeowners’ choices determine whether a probate is needed

I work seamlessly with individuals, families and attorneys to successfully support you through the trust or probate sale or purchase process.

Be safe. Take care. Plan.

Call for your appointment. 559.792.8263