Estate Law

Estate law questions? Ask an estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Want to set up provision for one family heir to end up with…

Customer Question
Want to set up...

Want to set up provision for one family heir to end up with the family home upon death of both parties in trust. Can we set up a provision for some amount of payment to the other three heirs so only the one ends up with ownership beforehand?

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

The home is in California and falls under Prop. 13 so taxes are quite low now. Want to keep trust open or send to our Alabama trust after the payoff is completed to get step up in value eventually. Alabama trust holds all assets except San Diego home.

Lawyer's Assistant: What documents or supporting evidence do you have?

As to what? Have California and Alabama trusts.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Would necessitate doing payoff from IRA account so will be necessary to pay considerable Income tax on that money when redeemed.

Submitted: 1 year ago.Category: Estate Law
Show More
Show Less
Ask Your Own Estate Law Question
Answered in 13 minutes by:
3/21/2017
Estate Lawyer: LegalGems, Attorney replied 1 year ago
LegalGems
LegalGems, Attorney
Category: Estate Law
Satisfied Customers: 13,346
Experience: Private Practice; Elder Law Attorney; Estate Planning; Attorney Mentor
Verified
you want to leave one party the home and the others the equal value in cash?
Ask Your Own Estate Law Question
Customer reply replied 1 year ago
A fair value, taking into consideration the cost of taxes being deducted from their amount due to receiving the money earlier than might be if waited for the second death.
Estate Lawyer: LegalGems, Attorney replied 1 year ago

OK thank you; there is no need to have 2 separate trusts for property located outside of one's state; so long as the trust holds title to the property then the trustee has the ability to sell/transfer the property per the terms of the trust. You are correct that inherited property allows for a stepped up basis for capital gains purpose.

https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-answers/interest-dividends-other-types-of-income/gifts-inheritances/gifts-inheritances

but there would be no legal reason that would preclude a party from leaving one person real property and others cash; if this is for children it is best to put the reasoning so it makes it more difficult to contest if they disagree.

Further questions? Please post here to continue the chat.

Satisfied? Kindly rate positively so I receive credit for assisting you. I hope that you feel I have earned

5 stars 🌟🌟🌟🌟🌟*****

as I strive to provide my customers with great service. ☺️

(no additional charges are incurred).

Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.

Ask Your Own Estate Law Question
Customer reply replied 1 year ago
would this be handled by amending the California trust which now has the title so is done prior to death of either one of the principals to that trust?
Estate Lawyer: LegalGems, Attorney replied 1 year ago

Yes one can either amend the CA trust; or terminate the CA trust and amend the other trust so that trust holds title to the real estate.

CA probate code 15400:

Unless a trust is expressly made irrevocable by the trust instrument, the trust is revocable by the settlor. This section applies only where the settlor is domiciled in this state when the trust is created, where the trust instrument is executed in this state, or where the trust instrument provides that the law of this state governs the trust.

Ask Your Own Estate Law Question
Estate Lawyer: LegalGems, Attorney replied 1 year ago

Hello again; just checking in to see how things worked out;
if you have further questions please don't hesitate to reach out to me here on Just Answer.
Thanks!

Ask Your Own Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with an estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask LegalGems Your Own Question
LegalGems
LegalGems
LegalGems, Attorney
Category: Estate Law
Satisfied Customers: 13,346
13,346 Satisfied Customers
Experience: Private Practice; Elder Law Attorney; Estate Planning; Attorney Mentor

LegalGems is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns.

Loretta TIllinois

Thanks Adam!! - A very direct and understandable response - you have been a great help!

Happy CustomerEllicott City, MD

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Thomas McJD

Thomas McJD

Attorney

3,170 satisfied customers

Wills, Trusts, Probate & other Estate Matters

Barrister

Barrister

Attorney

5,488 satisfied customers

17 yrs estate law, real estate. Wills/Trusts/Probate

RayAnswers

RayAnswers

Attorney

5,126 satisfied customers

Texas lawyer for 30 years in Estate law

Infolawyer

Infolawyer

Attorney

5,032 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

1,841 satisfied customers

Fully licensed attorney in Texas in private practice.

RobertJDFL

RobertJDFL

Attorney

1,454 satisfied customers

Experienced in multiple areas of the law.

ScottyMacEsq

ScottyMacEsq

Attorney

1,167 satisfied customers

Licensed Texas General Practice Attorney

< Previous | Next >

Related Estate Law Questions
How long can a deceased persons name stay on a house deed
How long can a deceased person's name stay on a house deed?… read more
Legalease
Legalease
Attorney At Law
Doctor of Law w/ highest honors
15,718 satisfied customers
How does one walk away from an insolvent estate with an executor
How does one walk away from an insolvent estate with an executor who chooses not to qualify. Can any of the assets be disposed of, i.e. clearing of personal property from a rented apartment and sale o… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
how long does an executor of an estate in pa have to settle a estate & trust
the person of the estate passed away in june of 2008..the executor has failed to give copys to the half beneficary of the trust, what if any are the consequences for this? the half beneficary..of the … read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I need help with estate funds and wills/probates. This is in
Little to none, but I do have his personal information, his location, and I am the only living child of his. I have some of his retirement info as well as his death date, city, and social security number. … read more
Sean K
Sean K
Attorney/Member
JD
762 satisfied customers
Under California Estate law, are statutory probate fees
Under California Estate law, are statutory probate fees calculated from the estimated property tax value? Do they include debt? For example, a home valued for property taxes at 310K, appraised by a ce… read more
Jessica B
Jessica B
Juris Doctor
1,283 satisfied customers
Prior to a estate being settled in probate court, should a
prior to a estate being settled in probate court, should a attorney representing only 3 of 5 heirs be paid for his services prior to settlement? The other 2 heirs have their own attorney The estate is… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,126 satisfied customers
We have an estate in probate in Missouri. How does this
We have an estate in probate in Missouri. How long does this take. Every time we call they give us a different date. It hasn't all been sent to the courts yet even though all paper work is done. … read more
RobertJDFL
RobertJDFL
Attorney
Juris Doctorate
1,454 satisfied customers
Not really yet, I am an heir to a probate and would like to
Not really yet, I am an heir to a probate and would like to share an attorney with one of my cousin and my brothers and sisters. is that a conflict of interest? … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
If an individual estate is in probate and a property is sold
if an individual estate is in probate and a property is sold that he was an heir, how are the proceeds distributed?… read more
Jessica B
Jessica B
Juris Doctor
1,283 satisfied customers
I am an heir in an estate that is being probated in Oregon
I am an heir in an estate that is being probated in Oregon under the laws for intestate. My question is regarding what my options are to deal with an attorney and personal representative that are not … read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,126 satisfied customers
I am an heir in an estate that is being probated in Oregon
I am an heir in an estate that is being probated in Oregon under the laws for intestate. My question is regarding the annual accounting. The personal representative was appointed in August of 2016 and… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,126 satisfied customers
I am an heir in an estate that is being probated in the
I am an heir in an estate that is being probated in the state of Oregon under the laws of intestate. The personal representative is now saying she wants to close out the estate and make the distributi… read more
Jessica B
Jessica B
Juris Doctor
1,283 satisfied customers
I received checks from an asbestos settlement paid to my deceased
I received checks from an asbestos settlement paid to my deceased husband's estate. I was told as the executrix of the estate I would have to open am estate account in a bank, I did that and filled ou… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,126 satisfied customers
I need to know the law regarding the exhumation of a body from
I need to know the law regarding the exhumation of a body from a cemetary in Wheaton illinois.This body (my sister)has already been exhumed from a grave in England and re-buried.(without prior knowled… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
If an administrator dies before the estate is completely settled
If an administrator dies before the estate is completely settled what are the steps for establishing a new administrator?… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
What is the CRIMINAL OFFENSE (if any) for an executor to take
What is the CRIMINAL OFFENSE (if any) for an executor to take the money from the estate and not disperse it to the heirs as the will stated for it to be dispersed in Texas. My sister and myself were 5… read more
Daniel P.
Daniel P.
Managing Attorney
Juris Doctor
2,741 satisfied customers
My father named me as his executor and trustee of his Will
My father named me as his executor and trustee of his Will 10 years ago. Since his death this past February my three sisters who are heirs to the estate are not cooperating with me trying to carry out… read more
LegalGems
LegalGems
Attorney
13,346 satisfied customers
1) HOw does the remainderman find out if there is any waste
1) HOw does the remainderman find out if there is any waste to the residence while the life tenant is there. 2) If the life tenant dies and there is waste.... how do you collect for damages. 3) How do… read more
socrateaser
socrateaser
1,031 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x