May
31
2012
0

Probates with Real Estate –

PROBATE is a court proceeding that is used to distribute your assets to your beneficiaries at the time of your death. Probates are complex, and require that numerous forms and regulations be followed, before the court will sign an order distributing your assets to your beneficiaries or heirs. 

A probate with regard to your home and other real estate assets can usually be avoided with the use of revocable living trusts. To do this, title to your home would be transfered on the County Record from yourself, to yourself as trustee under your revocable living trust. For instance, the deed would be from John Doe to John Doe as Trustee of the John Doe Revocable Living Trust dated January 15, 2012. The terms of the trust will state who the home will be distributed to after you die, and this transfer can be completed on the County Record without a probate. 

However, not everybody passes away with their home in a revocable living trust. There are many occasions where individuals will pass away with their home in their name alone, and they may or may not have a will. A probate will probably be required whether they have a will or not. The terms of the will determine who the beneficiaries of the home will be. If there is no will, the home will be distributed to the “heirs at law” of the decedent.

With regard to real estate, a probate is required to clear the title so that the property can be distributed to the beneficiaries or heirs of the decedent, or so that the property can be sold and the proceeds of sale distributed to the beneficiaries or heirs. Clients will ask me why a probate would be required if the decedent has a will naming somebody as a beneficiary. To find the answer to this, we first need to first look at the County Record to see who the record owner is for the home. The last deed of record could be in the name of John Doe. John Doe is now deceased, so who can sign a deed from John Doe to his beneficiary? The answer is no one, which is why a court order would be required.

Written Michael J. Young, elder law attorney and probate attorney in Walnut Creek, CA and former in-house counsel for title insurance companies. www.WalnutCreekElderLaw.com LawYoung1@Gmail.com 1931 San Miguel Dr., Suite 220, Walnut Creek, CA 94596. 925-256-0298. Mr. Young serves Contra Costa and Alameda Counties, including the cities of Walnut Creek, Alamo, Danville, Concord, Brentwood, Pleasant Hill, Antioch, Clayton, etc. Mr. Young advises clients regarding Probates, Probates with Real Estate, Medi-Cal, nursing homes, asset protection, the VA Aid and attendance pension benefit, and long term care planning. Mr. Young is an Elder Law Attorney and Probate Attorney with offices in Walnut Creek, CA. Walnut Creek Elder Law Attorney, Walnut Creek Probate Attorney

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