Legal Question in Wills and Trusts in California
Ok here are my cards...Mother passed away 2011, father has recently passed and I am one of the three children (beneficiaries) trying to sort out this mess. Neither parent had wills, they do own real property as joint tentants of which carries a mortgage that is behind in payments. My father owns a truck in his name and is a sole propietor of a home based business. I am finding that there are previous tax years that need to be addressed; there are no accounts with funds to pay bills. LOL, yeah...
1 Answer from Attorneys
It depends on what you are trying to accomplish. If you want to walk away you could walk away. If there is equity in the house then maybe you don't want to walk away!? Of course the previous years tax bills could be a problem. You need to get as much info as you can about all the assets and all the liabilities so you can make an educated decision. Good luck. -John
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