Legal Question in Wills and Trusts in California
inheritance taxes or probate
my name is not on the deed of my husbands house he had it before our marriage but he wrote out a living trust himself and had it notarize with the seal, that the house and cars goes to me when he dies.Will I have to pay death taxes on the house or have any problems it is worth under a million? I know I do for the yearly taxes, and also can his kids contest it? the house goes back to them when I die we live in California. And will the state recognize this trust by it not being by a lawyer and will it have to go threw probate?
1 Answer from Attorneys
Re: inheritance taxes or probate
A trust may be valid even if not prepared by an attorney, but there are quite a few pitfalls in drafting for the layperson, so recommend that your husband have his trust reviewed by an estate planning attorney. If he has died, you will not have to pay estate taxes, nor will you need a probate if the bulk of your husband's assets are property titled in the trust, but you should consult an attorney to make sure the necessary paperwork is done.
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