California:
Our mother setup a revocable "living trust" with my father prior to him passing a few years ago.
Basically, the trust states that her real estate (house is currently paid off) will be sold at the time of her death and the profits would be split amongst the surviving children.
Our mother has decided to sell the house to one of her children, which has been verbally agreed apon by the rest of the surviving children named in the trust.
Is it advisable to cancel the current trust and create a new one, or?
What steps are advised and required by law to move forward with the selling of the property?
Our mother setup a revocable "living trust" with my father prior to him passing a few years ago.
Basically, the trust states that her real estate (house is currently paid off) will be sold at the time of her death and the profits would be split amongst the surviving children.
Our mother has decided to sell the house to one of her children, which has been verbally agreed apon by the rest of the surviving children named in the trust.
Is it advisable to cancel the current trust and create a new one, or?
What steps are advised and required by law to move forward with the selling of the property?
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