M
moza
Guest
Washington
My father pasted away a year and half ago. Both of my parents owned a business. A lawyer drew a Living Trust in my mother name so that 20% of payment for the rental property they own goes to the Living Trust to get some $$ out of her estate.
Recently my mother purchased a home in Palm Desert, CA. She would like to put the home in her trust. The wording in the Living Trust states that 'this property (the business property that is owned by my parents), together with other property which may be added to this trust, shall be held, managed and distributed by the trustee as herein provided."
Whew! My question is -- how do we get the California home into the trust? Do we have to go to the Title Company (the home is paid for) or back to the lawyer. Also, would putting her personal home into trust help in any way in regards to Estate Taxes etc.?
Not sure if I have stated this very clear. They do not make this easy!!!
Thanks
My father pasted away a year and half ago. Both of my parents owned a business. A lawyer drew a Living Trust in my mother name so that 20% of payment for the rental property they own goes to the Living Trust to get some $$ out of her estate.
Recently my mother purchased a home in Palm Desert, CA. She would like to put the home in her trust. The wording in the Living Trust states that 'this property (the business property that is owned by my parents), together with other property which may be added to this trust, shall be held, managed and distributed by the trustee as herein provided."
Whew! My question is -- how do we get the California home into the trust? Do we have to go to the Title Company (the home is paid for) or back to the lawyer. Also, would putting her personal home into trust help in any way in regards to Estate Taxes etc.?
Not sure if I have stated this very clear. They do not make this easy!!!
Thanks