Legal Question in Wills and Trusts in California
My Mother passed in this last year and had a Living Trust that my Father set up. She had a mid 4 figure savings account and a small Investment account of a low 5 figures. Her home was involved in a Reverse Mortgage which was drawn out to more than current market value. The Estate/Trust had about 25 to 30 K in invested money and an automobile worth about $10K. Would the automobile be considered part of the Estate/Trust to be sold and divided among the surviving members of the Trust, or would it be considered personal property not connected to the Estate/Trust?
Asked on 11/19/14, 6:38 pm
1 Answer from Attorneys
Michele Cusack
Pollak & Cusack
Personal property of the decedent, including tangible personal property, is part of her estate (or trust estate if assigned to the trustee.)
Answered on 11/19/14, 6:51 pm