Do We Have To Probate

[suki123]

What is the name of your state? CA
MY DAD PASSED AWAY ON 3/21/05; HE HAD A LIVING TRUST, HE WASNT MARRIED AND LEFT EVERYTHING TO MY 2 SISTERS AND MYSELF TO BE DIVIDED EQUALLY; HE DIDNT HAVE MUCH, A HOUSE; A CAR AND PERSONAL PROPERTY...DO WE HAVE TO GO THROUGH PROBATE?

 

[seniorjudge]

What is the name of your state? CA
MY DAD PASSED AWAY ON 3/21/05; HE HAD A LIVING TRUST, HE WASNT MARRIED AND LEFT EVERYTHING TO MY 2 SISTERS AND MYSELF TO BE DIVIDED EQUALLY; HE DIDNT HAVE MUCH, A HOUSE; A CAR AND PERSONAL PROPERTY...DO WE HAVE TO GO THROUGH PROBATE?

Are there ANY assets whatsoever solely in his name? If so, you will have to probate to get them into whoever's name; if not, then no.

 

[suki123]

Well, His Revocable Living Trust Says , "the Grantor, (my Dad) Declares That He Has Transferred And Delivered To The Trustee All His Interest In The Property Described In Sch A." So Does That Mean That Nothing Was Left In His Name Solely? ..

 

[seniorjudge]

Well, His Revocable Living Trust Says , "the Grantor, (my Dad) Declares That He Has Transferred And Delivered To The Trustee All His Interest In The Property Described In Sch A." So Does That Mean That Nothing Was Left In His Name Solely? ..

Q: So Does That Mean That Nothing Was Left In His Name Solely?

A: That is what I need for you to tell me.

 

[curious100]

Well, His Revocable Living Trust Says , "the Grantor, (my Dad) Declares That He Has Transferred And Delivered To The Trustee All His Interest In The Property Described In Sch A." So Does That Mean That Nothing Was Left In His Name Solely? ..

I'm sorry for your loss. Was everything that he owned transferred to the trust via Schedule A, or at the time of his death did he own anything solely in his name that was never transferred via Schedule A?

 

[suki123]

Yes, everything he owned was transferred before he died via schedule A. Im looking at his Revocable living trust at "schedule A" ..as follows, 1. guns and tools 2. his home 3. remaining property of estate.
Nothing was added or removed prior to his death. So, now we will need to sell his home to pay off a few credit cards and some medical bills. Can we sell his home without going through probate? He wasnt paying any taxes because he was so sick (he was only 56) so, would there be any taxes to pay on his behalf?

 

[seniorjudge]

Yes, everything he owned was transferred before he died via schedule A. Im looking at his Revocable living trust at "schedule A" ..as follows, 1. guns and tools 2. his home 3. remaining property of estate.
Nothing was added or removed prior to his death. So, now we will need to sell his home to pay off a few credit cards and some medical bills. Can we sell his home without going through probate? He wasnt paying any taxes because he was so sick (he was only 56) so, would there be any taxes to pay on his behalf?

Q: Can we sell his home without going through probate?

A: Yes; it is your home and it is not in probate and does not need to go through probate (if the trust was written correctly). When you list the house to sell, show the real estate agent a copy of the trust; the title company will need to see it also.

If he had not been making any income, there are no taxes to pay.

 

[curious100]

Yes, everything he owned was transferred before he died via schedule A. Im looking at his Revocable living trust at "schedule A" ..as follows, 1. guns and tools 2. his home 3. remaining property of estate.
Nothing was added or removed prior to his death. So, now we will need to sell his home to pay off a few credit cards and some medical bills. Can we sell his home without going through probate? He wasnt paying any taxes because he was so sick (he was only 56) so, would there be any taxes to pay on his behalf?

I can only answer your first question. Yes, you can sell his home without going through probate. The title company will need a complete certified copy of the trust.

Contact your CPA or a tax attorney regarding any tax liabilities.

 

[suki123]

Thank you both very much. We are sort of spinning in a circle and just needed to be pointed into a direction. Now we know where to start our leg work. Thank you again. This service is very much appreciated by us laymen.

 

[seniorjudge]

Thank you both very much. We are sort of spinning in a circle and just needed to be pointed into a direction. Now we know where to start our leg work. Thank you again. This service is very much appreciated by us laymen.

Glad to help, y'all....

 

[curious100]

Thank you both very much. We are sort of spinning in a circle and just needed to be pointed into a direction. Now we know where to start our leg work. Thank you again. This service is very much appreciated by us laymen.

You're welcome. Good luck to you.