For this four-part series, we are discussing very common scenarios that we see in our trust administrations where real estate is involved. Real estate, particularly the family home, often has emotional and sentimental components that throw a wrench in trust administrations. Beneficiaries often have different ideas of what to do with the family home. We will continue using the same…
Imagine this scenario: your cousin, David, dies without an estate plan here in California. He had no children or further descendants. He has no living siblings, parents, grandparents, or aunts or uncles, but he does have you, his first cousin on his dad’s side. His only first cousin that you are aware of. You petition the court to open a…
History Heggstad petitions are named after the California court case, Estate of Heggstad. Mr. Heggstad created a living trust and identified the assets he wanted in the trust by filling out a schedule of assets attached to his trust. Unfortunately, Mr. Heggstad died before he could retitle those assets into the name of his trust. Wanting to avoid a full probate…