Legal Question in Wills and Trusts in California
My parent's revocable living trust was signed naming them as "Grantor and Trustee". My sister is named as "Trustee". Mom and Dad want their assets (cash and house) to be distributed to their five children equally ( interest to each). To fund the trust with their cash assets, their savings account was retitled from them as individuals to the trust. I did an on-line title search to verify the trust was funded with their house. The house is in Santa Clara County (SCC), CA. Here's what was recorded by the SCC clerk/recorder:
Document Type: GRDE - DEED
Grantor Names: DAD, MOM
Grantee Names: DAD, MOM, SISTER TRUSTEE, DAD AND MOM REVOCABLE TRUST
My question: Does this mean Sister's name is on the deed to the house?! Does this mean she is Joint Tenant (she does live with them)? When my parents both pass, will she automatically get the house? Because that is contrary to my parent's wishes.
2 Answers from Attorneys
Her name is on title, but as trustee, not joint tenant. When both of your parents die, the trust becomes irrevocable and the remaining trustee must follow the Grantors instructions for distribution of the trust estate, as set forth in the document.
Don't rely on summary property profiles. Pull the deed and review the actual wording of the grantees.
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