Legal Question in Real Estate Law in California
My father owns two homes and they are both in the family trust on the title. If my father passes away, should we (his three children) keep the homes in the trust's name or is the trust no longer valid?
Asked on 8/11/15, 3:59 pm
2 Answers from Attorneys
You would have to ask someone who has the trust in front of them what happens when he dies. Most commonly either the trust survives and pays out income to the beneficiaries, or the trust contains provisions for winding it up and distributing the assets upon death. There are other variations. No way to tell without reading the trust documents.
Answered on 8/11/15, 4:26 pm
William Christian
Rodi Pollock
It depends entirely on what the trust says to do at your fathers death.
Answered on 8/11/15, 4:55 pm