Legal Question in Wills and Trusts in California

living trust

I live in Hawaii. I have a home in California. I want to add my (unmarried) partners name on the title, and add my 2 grownup sons, OR create a living trust. Which is better? I am concerned about tax reprocussions, inheritance tax, etc.....This is my one and only asset. For Living Trust- Which state form do I use, California since that is where the property is? Or Hawaii, since that is my residence?

I would appreciate any advice.

Thank you so very much.

-caryn


Asked on 11/09/08, 2:06 pm

3 Answers from Attorneys
Jon Zahaby Tour bus, scenic and sightseeing, operation

Re: living trust

The answer to your question depends heavily upon how much your property is worth.

Jon A. Zahaby, Esq.

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Answered on 11/10/08, 2:56 pm
Phillip Lemmons, Esq. Phillip Lemmons APC, Attorneys at Law

Re: living trust

Hawaii

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Answered on 11/09/08, 7:00 pm
Robert Mccoy Law Office Of Robert McCoy

Re: living trust

You would use a trust valid under Hawaii law and you would use a deed valid under California law to transfer property into the trust.

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Answered on 11/09/08, 9:01 pm


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