Trust vs. Estate in California: What Property Owners Need to Know to Avoid Probate

Trusts & EstatesCalifornia, Estate, Living Trust, Probate, Trust

California probate vs trust is the key distinction that determines how property transfers after someone dies. When someone dies in California, their property must transfer to someone else. How that transfer happens — and how complicated it becomes — depends almost entirely on whether the deceased person had a trust. Understanding the difference between a trust and an estate is essential for anyone who owns property, is named in a will, or is administering a loved one’s affairs. What Is an Estate? Simply put, a person’s estate is everything they […]

Affidavit of Death

Trusts & EstatesAffidavit of Death, Estate, Probate, Real Property, Title Transfer

An affidavit of death is a sworn legal statement used to formally declare that a person has died. It’s typically signed by someone with personal knowledge of the death—such as a family member, executor, or trustee.

What is a Probate Referee

Trusts & EstatesAppraisal, California Probate, Estate, Probate Referee, Property Valuation

Probate referees are individuals appointed by the California State Controller as an officer of the court to appraise and determine the value of assets in an estate when someone passes away. This ensures that the assets are properly evaluated for tax purposes and equitable distribution among heirs. Probate referees are impartial and independent professionals with expertise in appraising various types of assets like real estate, stocks, bonds, and personal property. Purpose of a Probate Referee: Ensuring Accurate Asset Valuation The primary duty of a probate referee is to appraise and […]

California Land Trust

Trusts & EstatesCalifornia, Land Trust, Real Property, Title Holding, Trust

In California, a land trust refers to a legal arrangement where real estate property is transferred to a trust for management and administration. Land trusts in California are typically established for purposes such as privacy, asset protection, and estate planning. When a property is placed into a land trust, legal title to the property is held by the trustee of the land trust, who manages the property on behalf of the beneficiary. The beneficiary retains all of the benefits of owning the property, such as the right to occupy or […]

Simplified Probate

Trusts & EstatesAffidavit, California Probate, Real Property Transfer, Simplified Probate, Small Estate

Probate is the legal process of administering a deceased person’s estate. It involves identifying and gathering the assets of the deceased person, paying any debts or taxes owed by the estate, and distributing the remaining assets to the heirs or beneficiaries. In General:Probate typically begins with the filing of a petition in the probate court, usually in the county where the deceased person lived. The court will then appoint an executor or administrator to manage the estate. If the deceased person had a will, the court will generally appoint the […]

Banking Beneficiaries

Trusts & EstatesBank Account, Beneficiary, Estate Planning, POD, TOD

Bank account beneficiary rules govern the designation of individuals or entities who will receive the funds in a bank account upon the account holder’s death. The specific rules and procedures can vary depending on the jurisdiction and the type of bank account involved. Trust Account:A type of bank account held within a living trust, also known as a revocable trust or inter vivos trust. The account is established in the name of the trust, and the trustee has the authority to manage and control the funds in the account on […]

What Is Probate

Trusts & EstatesEstate, Probate, Real Property Transfer, Trust, Will

In simplified terms, probate is the legal process of settling the financial affairs of a deceased individual after they die via court supervision; i.e. the distribution of their assets and payment of their debts. On average, probate in California takes about twelve to eighteen months. However, if problems arise, the process can much longer. The Will:Often, this entire process pivots on the existence of a Will, if it can be located, its contents, and its validity will dictate the parties and actions to be taken. In short, a Will is […]

Commercial Property Disclosures

Trusts & EstatesAs-Is, Church Real Estate, Contingency, Defect, Disclosure, Failure To Disclose, Hazard, Latent Defect, Marketability, Material Facts, Property Inspection, Property Value, Transfer Disclosure Statement

First and foremost, to know which disclosures apply, we must define the difference between residential and commercial real property in California. Although most municipalities define the different types of properties in their zoning code, the general definitions used are essentially the same. Residential properties are generally those with one to four dwelling units, such as a single-family house or duplex. Although there are some nuances for mobile homes, and vacant land, for purposes of this article, commercial property is everything that is not residential property, including residential property consisting of […]

What is a Power of Attorney

Trusts & EstatesAgent, Church Real Estate, Fiduciary, General Agent, Limited Power Of Attorney, Power Of Attorney, Principal, Scope Of Authority, Special Agent, Utmost Care

Although many have heard the term, it is important to understand what a power of attorney is. A power of attorney is important and comes in many different forms as part of estate planning. Understanding the limitations of each and how power of attorney best fits your needs now and in the future is vital. Defined: The California Probate Code Section sets forth the different types and limitations of a power of attorney. At its core, a Power of Attorney allows you to appoint an “attorney-in-fact” or agent, to act […]

Community Property

Trusts & EstatesChurch Real Estate, Commingling, Community Property, Dissolution Of Marriage, Prenuptial Agreement, Separate Property, Transmutation, Wills And Trust

After attending church Council meetings or services, I am often approached and asked questions by individual members. Other than general real estate concerns, the majority of the questions are in the area of estate planning, (Wills and Trust) and how they relate to community property. Although some get the concept of what community property is, when it gets down to it, they really don’t understand how it works and its effects on their estate. What follows is a brief overview of community property, which is the rule of the land […]

Category Archives: Trusts & Estates