Legal Question in Real Estate Law in California

Re: inheritance

For most families, the best way to transfer property from one generation to the next is through use of a testamentary trust ("living" trust). This bypasses probate as to assets that are in the trust, and usually avoids the worst bite of gift, inheritance, and property taxes.

Most methods using co-ownership, e.g. joint tenancy, are inferior in one major and costly way or another -- but not always. Further, a gift by trust can always be changed, which favors the older generation by giving a chance to change her mind, but can cause anxiety to the expecting heir.

Real property in California is VERY expensive in relation to attorney fees for routine matters such as estate-planning advice, and so are the local, state and federal taxes for missed opportunities to get a stepped-up basis or to avoid re-assessment. See an estate-planning lawyer. Failing to do so is "penny wise and pound foolish."

Re: inheritance

Placing your name on title is very bad for a number of reasons including the fact that it ususally results in higher taxes either now or in the future. The best way to avoid probate is to have your mother create a revocable trust.

Re: inheritance

It sounds like you need a living revocable trust. I have done a good amount of trust work -- i.e., I am experienced. My experience is that you need some one who knows what they are doing. I am often hired to fix poorly done trusts by other attorneys that need to be redone because they have improper disclosure rules, improper and unnecessary types of powers of attorney, improper living wills attached, and more. It must be done right and in my opinion you can't what you need for less than $1,200. If you go with some well spoken "hack" who will do it for $699 or whatever, you may not avoid probate tax of up to 50%.

Re: inheritance

Your mom can put the house in a living trust that can be used to avoid probate and leave the house to you. There is no need to add you to title at this time.

My office is in El Cajon and my prices are reasonble if you would like to contact me for a free consultation. I even grew up in your area, so feel to contact me.