Legal Question in Wills and Trusts in California

transfering real property into a Trust part 2
I know that I (the trust) will be taxed at a higher rate and that is not a concern. I want my moms assets seperate from mine. I am the Trustee of 4 seperate family Trusts. I am not sure if she had a revocable or irevocable Trust (I need to check) But originally the Mineral rights (which generate a monthly check to me) and I get a 1099-misc for, were supposed to be included in her Trust, the attoreney she used never filed the papaerwork that she signed. I did not know this until after she passed, that's why I just put it into my name so I could get the monthly income and it was easy to do. I now want to put it back into her trust where it should be. My mom wanted this money kept seperate as it has been in our family for many many years. In the event of divorce I don't want any issues with community property. I just need to know what form to use to transfer it back into my moms Trust.

Asked on 3/26/08, 8:31 pm

3 Answers from Attorneys

Mitchell Roth MW Roth, Professional Law Corporation

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Re: transfering real property into a Trust part 2

Same answer.

Answered on 3/27/08, 3:08 am

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Jeb Burton The Burton Law Firm

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Re: transfering real property into a Trust part 2

I agree, you need to consult an attorney to decide if the actions you want to take are allowed by the trust (or even advisable).

There are other ways to do what you are describing, even if you can transfer to your Mom's trust, I would question whether that would be the best solution to fix the problem you are describing.

Frankly, you have a situation that is beyond a forum such as this to assist you with, as the answer depends on the trust document and their are potential legal complications which come along with the act you are describing.

Essentially what I am saying is that if you don't know the answer to this one yourself (by reading the Trust and understanding the surrounding law), this is not an action you want to take without legal counsel.

With five trusts I hope you have some counsel advising you on the administration. I would strongly encourage you to speak to them, or else retain somebody.

Answered on 3/27/08, 3:15 pm

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