Anyone who owns real property in California needs to think about the most appropriate avenue for passing this on to future generations. Many individuals consider using a tool like a living trust to ensure that the property goes to the chosen beneficiary through an estate plan.
The primary goal of leveraging a living trust for real property is to avoid probate and to ensure a streamlined manner of dealing with property in the event of death or incapacity. However, an estate plan with a living trust is only complete when you have appropriately retitled the home into ownership by the trust. The beginning of the new year is a valuable opportunity not only to meet with your Pasadena estate planning attorney, but to review the legal status of the title to your home and any other real property.
Sometimes you may have drafted your estate plan with the intention to create a living trust, but failed to retitle the home, meaning that you own the home, and it may become part of your probate estate if something happens to you. Make sure that your estate planning lawyer in Pasadena has reviewed this with you and also has a comprehensive list of all real property that you own. The second step is then to verify that the title of all of this real property has been properly established in line with your previously created estate plan or the new estate plan that you create with the help of a lawyer.
Our Pasadena area lawyers are highly experienced in crafting estate planning strategies for those who own real property in California or have recently moved to California and need to update their estate plan. Communicate with our office today to set up a consultation to discuss your options.
