What should I do if there are very little assets left in the California trust that I am administering?
At times during a trust administration in San Diego, the assets of the trust may dwindle to the point where there is very little left. Trust administration also involves certain costs, which means that continuing to administer the trust may not make financial sense.
Probate Litigation | Trust | Trust Litigation |
What is a Living Trust?
The answer to this question depends on several factors. In some cases, when a decedent had a living trust that owned all of his assets, it may be possible to conduct a trust administration that does not involve the probate court. In other cases, some assets may require a probate administration.
Community Property or Separate Property
There are a number of steps you can take in order to sort out how the decedent’s property was owned. Read more here.
Our deceased mother owned a country house. How can we find out how much the title is worth?
When it comes to California real estate, the first thing to do is to carefully review all deeds and find out how title is held. If you have doubts, you may contact a title company and ask for a title search.
Community Property with Right of Survivorship
Most real property held in community between spouses and domestic partners used to be held in joint tenancy. Since 2001 (and 2003 for domestic partners), California probate law has introduced Community Property with Right of Survivorship (CPWROS).