Legal Question in Wills and Trusts in California
non resident estate taxes
My parents own real property in California as well as in Mexico and have a mexican will, where does that property stand as far as the validity of the will and are estate and inheritance taxes to be paid
2 Answers from Attorneys
Re: non resident estate taxes
It is very possible that the will is valid, but depending on how the title to the California property is held, ther may be a requirement that it pass through probate at the death of the parents.
Depending on the value of the property, you may want to consider a trust for them.
Re: non resident estate taxes
if the will is valid, according to california statutory formalities, etc...the home in california would validly pass thru the will. as far as the mexico property is concerned, you would have to check into jurisdictional requirements for such out of country property. however, if you are trying to avoid paying maximum taxes on one or both properties, creating a trust is probably your best bet. if you would like further assistance on both matters, feel free to email me today with more specifics.
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