Legal Question in Real Estate Law in California

Re: home inheritance

You should place the asset in a revocable living trust to avoid probate tax which can be as high as 40-50% of the value. I do this type of work. You may contact me.

Re: home inheritance

You may not want it. If it is an older mobile home, and depending on what the mobile home park is doing (if that is where it is at) they could require that it be moved after her death.

As far as how to transfer it to you would depend on what else is in her estate.

Re: home inheritance

You may be thinking of a "living trust" -- I have never heard of a "living will," nor, for that matter, have I ever heard of "probate taxes." There are estate taxes, of course, but small estates are generally exempt.

Your aunt could use a California Statutory Will. This is a form will defined by the Probate Code. Many stationery stores carry them along with other legal forms. Fill it out CAREFULLY; many users make mistakes that can invalidate the will.

Also, it is better that the witnesses be persons who are not receiving gifts under the will.

California also recognizes holographic wills; they are wills which are entirely in the handwriting of the maker, dated and signed, and clearly indicating that they are intended to be wills and clearly making bequests. Holographic wills are not witnessed.

Estates valued at under $100,000 do not have to go through full-scale probate administration. This does not mean there are no post-death formalities, but the cost to have a lawyer handle the transfer of the mobile home to your name, based on a valid will, should be quite low.

All in all, I do not see a net benefit in using a trust for a small estate, but if you use a do-it-yourself statutory will form, be very careful to read and follow the instructions.