Legal Question in Wills and Trusts in California

I think it would be worth while, after confirming with an experienced real estate agent about the likely net sale proceeds of the house (or your ability to refinance if you'd like to keep it). The trust administration costs vary from attorney to attorney, but I'd estimate them at $3000-5000 from my firm in your case. Consult with an attorney soon, as it looks like you have value in this estate.

Probably not since the reverse mortgage has negative compounding of interest and the principle builds up the longer it is held. Most people are shocked at how little equity can be left. One attorney I knew found himself upside down and out $10,000. Thus for me I would need the address to check the property record.

If what you're saying is accurate and the estate is worth more than $50,000 I would be willing to do it. But I can not give an estimate once I know what I'm really looking.

"Negative compounding of interest?"

That's the dumbest thing I've ever read here. When the trustor under a reverse mortgage dies, the balance is due and payable or else the property gets foreclosed on. There are laws governing reverse mortgages in California.

You don't have to have an attorney to administer a trust. But you should at least get some consultation, and get it from someone who is competent and knows what they are saying.

Yeah there are laws in California specific to it in the Civil Code and the Finance Code. The California Finance Code says If it is a first mortgage loan the reverse mortgage can have negative amortization, meaning the interest will continue to accrue and compound until the loan is repaid. This will add principle to the loan balance.

By the way if you want an attorney, I'd charge $120 an hour to administer this estate. The overall costs though depends a lot on whether your mother is alive or not since it effects how much administration is done.

Regarding the mortgage upon death the estate has time to deal with it. If the house is sold any proceeds left over will go to you.