Key Takeaways Notarizing California estate planning documents is not optional for most of them. A document that fails the execution requirements can be rejected by banks, title companies, hospitals, and probate courts. California wills do not require notarization. They require two witnesses. A notarized but unwitnessed will can be rejected in probate. Living...
Key Takeaways The joint tenancy risks California homeowners face rarely show up until something goes wrong. Joint tenancy gives your adult child immediate, present ownership rights in the property today, not a future promise. You generally need your child's signature to sell, refinance, or borrow against the home. The IRS treats adding a child...
Key Takeaways A California real estate transfer must use the right deed type. Grant deeds provide implied warranties; quitclaim deeds provide none. Transferring your home into a revocable living trust avoids probate, does not trigger a due-on-sale clause under federal law, and protects the property from Medi-Cal estate recovery. Life estate deeds pass...
Key Takeaways A California inherited home is often the most valuable and emotionally charged asset in an estate. California's Prop 19 changed the rules: your child must move in within one year to keep your lower property tax base. The current Prop 19 exclusion protects up to $1,044,586 above the parent's assessed value...
Key Takeaways California probate is expensive and time-consuming - Statutory fees alone can reach $50,000 for a $1.2 million estate (attorney and executor fees combined), with proceedings lasting 9-18 months New 2025 laws expand probate avoidance options - For deaths on or after April 1, 2025, the small estate affidavit cap increased...
Why Are Savvy California Entrepreneurs Opting for LLCs for Their Properties? In the vibrant economic landscape of California, savvy entrepreneurs are constantly seeking innovative strategies to safeguard their investments and maximize their financial health. One such strategy gaining traction is transferring property ownership into a Limited Liability Company (LLC). But why...
This is one year we’d all like to put behind us. We want our lives back. With vaccines now in distribution, we can start to fantasize about a life beyond the coronavirus. We can look forward to ballgames and concerts, parades and family gatherings. To weddings and graduations that we...
A Deed can seem like an insignificant document, but without it, you can’t buy or sell a property. In the following example, the buyer hadn’t recorded the Deed, and the title remained in the owner’s name for nearly two decades. Nearly 20 years later, an unrecorded Deed surfaces This case study comes...
Jeff had been trying to sell a house he’s owned for 20 years. His realtor found a good buyer, but the preliminary title report showed that the man from whom he had purchased the property had a lien against it. The title company won’t issue title insurance for the new...
“Jason” came in to our Oakland office to change the title on a deed--a routine procedure that sometimes can be completed in a single day. Jason co-owned a home in the Oakland hills, and his name was on the deed along with those of his father and uncle, both deceased....
A woman, “Joan”, recently came into our Oakland office to talk to us about adding the names of her longtime partner and her daughter to the Deed for her home. As with many of our clients, health issues had caused her to think about succession planning. Joan had recently had...
There are many things to keep in mind as you plan the distribution of your assets among your heirs for your Living Trust. But for those in their second or third marriages, replacing the name of the former spouse with that of the new one on all assets, including life...
