Legal Question in Real Estate Law in California

Estates/Real estate & Real Property

I am a 66 year old woman with one

adult child. I recently inherited a

modest home and small condo from

my father through a QuitClaim Deed

reserved as a Life Estate.

What would be the most advantages

way to leave this property to him?

Should I add him as a Joint-tenant

on both properties (or) reserve these

properties in a life estate and

quitclaim both to him.

Any better options than the ones I

have mentioned?

Thank you


Asked on 8/26/08, 4:00 pm

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Estates/Real estate & Real Property

The best results from an overall standpoint (taxes plus probate avoidance) are usually achieved by use of a so-called living trust. I recommend finding a pretty-much local attorney who specializes in estate planning, but one who also gives individualized attention to clients rather than pre-packaged "trust seminar" cookie-cutter solutions. Avoid joint tenancy; it's a trap, especially if the properties have a lower tax basis in your hands that their current fair market value. Does avoid probate, doesn't avoid a host of taxes.

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Answered on 8/26/08, 11:54 pm


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