Transfer on Death (TOD) deeds gained legal recognition in 2016 as a means of transferring real property outside of probate in California. Since then, TOD deeds have emerged as a popular estate planning tool, offering a streamlined alternative to probate for transferring real estate assets. A TOD deed is a legal document that allows real property owners to designate beneficiaries…
In the realm of estate planning, a will without a trust stands as an important document, orchestrating the distribution of assets and the fulfillment of wishes after one’s passing. In California, the statutory will serve as a convenient template for many individuals seeking to outline their testamentary intentions. While there are times when a statutory will may be sufficient –…
Many people believe that everything automatically passes to their spouse upon their death, regardless of how property is titled or any estate planning documents prepared. In some cases, this may be true. However, there are several situations where this may not be the case, and the surviving spouse may either not receive the property or may experience difficulty gaining access…
Over the past few months, we have discussed three very common scenarios where real estate is involved in a trust administration and where beneficiaries may not agree or have different ideas of what to do with the real estate. Part I of this series tackled the common issue of one sibling wanting to keep the home as an investment property…
