Legal Question in Wills and Trusts in California
House sold, do we update trust records?
My mother sold her house, principle residence, last year. She has a trust and a living will. Do we need to update the trust and will?
2 Answers from Attorneys
Re: House sold, do we update trust records?
You don't have to update them unless the house was mentioned specifically in them. Otherwise, just make sure the new property/assets are titled with the trust name to avoid probate.
Re: House sold, do we update trust records?
You don't have to automatically update a will and living trust if you sale something that was funding it, but a major change, such as a sale of a house, could affect many parts of the trust. It would be good if you had an attorney at least review your trust. I recommend that all my clients do that every few years to make sure everything is in order.
You would immediately want to make sure that the money from the sale of the house was put in some account that is owned by the Trust in some way. That is the most immediate concern.
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