Legal Question in Wills and Trusts in California

question about assets into one pot

Parents both deceased. Waiting for assets to come in from mothers side. Father only had home cars on his side. We were informed first by a cpa to pay all bills, we did. then she said to put all monies in one pot. Now she says it is two pots. One is for Dad, one is for Mom. Were confused. Since the attorney is hard to reach plus the fact of the price they charge, we thought of asking you. What happens if one pot is what we did?


Asked on 8/06/08, 7:20 pm

1 Answer from Attorneys
Delilah Knox Rios Delilah Knox Rios, Attorney At Law, APLC

Re: question about assets into one pot

There are many issues here. Who died first? The survivor owns 50% of the community outright and a share of the remainder of CP and deceased party's separate property. The reason for the division is a tax issue as to what taxes, if any, need to be paid by which decedent. Also there may be a probate issue if the property was not in joint tenancy with the sruvivor. You need to seek legal counsel. The CPA is only trying to help.

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Answered on 8/10/08, 7:16 pm


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