Weston Mobile Notary, Mobile Notary & Legal Document Assistant

How title is held is a critical aspect of property ownership, dictating how ownership rights are vested and how they transfer in the event of sale, inheritance, or other legal processes. Understanding the different ways to hold title on a deed is essential for anyone involved in real estate transactions. Let's explore the various forms of title holding: 1. Sole Ownership: Sole Ownership : This is when a property is owned by a single individual. In this case, the owner has complete control over the property and can sell, mortgage, or transfer it at will. Upon the owner's death, the property will typically pass according to their, trust will or state laws of intestacy. Examples - A Single Woman; An Unmarried Man, A Widow 2. Co-Ownership: Joint Tenancy : In joint tenancy, two or more individuals hold equal shares of the property with the right of survivorship. This means that if one co-owner dies, their interest automatically passes to the surviving co-owner(s). Joint tenants are ...

  Are you looking for a way to manage your assets effectively while ensuring a smooth transition for your loved ones after you're gone? A revocable living trust in California might be the solution you need. Let's explore what it is and why it's beneficial. What is a Revocable Living Trust? A revocable living trust is a legal arrangement where you transfer ownership of your assets into a trust during your lifetime. You (the grantor) retain control over your assets as the trustee, or you can appoint someone else to manage them. The trust is "revocable," meaning you can modify or cancel it at any time during your lifetime. Functions and Benefits: Incapacity Planning : A living trust provides for the management of your assets if you become incapacitated. You can appoint a successor trustee to take over without the need for court intervention, ensuring your affairs are managed smoothly. Avoiding Probate : One of the biggest advantages of a living trust is avoiding pro...

Probate can be a complex and daunting process, especially for those who are unfamiliar with its terms and procedures. Whether you're planning your estate or dealing with the affairs of a deceased loved one, understanding the terms of probate is essential. Let's break down the key terms associated with probate to help demystify this often misunderstood aspect of estate administration: 1. Probate : Definition : Probate is the legal process through which a deceased person's assets are distributed and debts are paid under court supervision. It ensures that the deceased's wishes, as expressed in their will or according to state laws of intestacy, are followed. 2. Decedent : Definition : The decedent is the person who has passed away and whose estate is subject to probate. 3. Executor / Executrix / Personal Representative : Definition : An executor (if male) or executrix (if female) is the person named in the decedent's will who had a fiduciary duty to carry out the terms...

Probate can be a daunting process, especially when it comes to understanding the statutory fees involved. In California, statutory probate fees are determined by state law and can significantly impact the estate's assets. In this blog post, we'll delve into the statutory probate fees in California, providing clarity and guidance for individuals navigating the probate process: Understanding Statutory Probate Fees: In California, the statutory probate fees are outlined in the California Probate Code, specifically sections 10800-10814. These fees are based on the *gross value of the probate estate and are calculated as follows: 4% of the first $100,000 of the estate 3% of the next $100,000 2% of the next $800,000 1% of the next $9 million 0.5% of the next $15 million Example Calculation: Let's consider an estate with a gross value of $1,500,000: First $100,000 : 4% = $4,000 Next $100,000 : 3% = $3,000 Next $800,000 : 2% = $16,000 Remaining $500,000 : 1% = $5,000 Total Statuto...

Recently, I attended a presentation on estate planning by a local trust attorney. Not so much for having my living trust drawn up, I already have that in place (and if you don't, you might want to look into having one done,) but to introduce myself to the attorney, learn something new, and to possibly drum up more business for myself. While I am well acquainted with living trusts and wills since notarizing trust docs is part of what I do, I learned that, as of March 2023, there is 11.9 BILLION DOLLARS worth of unclaimed property sitting in the California State Comptroller's office, the bulk of which is property that lands there when people don't have a trust or estate plan! Do you have unclaimed property siting dormant just waiting for you to claim it? Or perhaps a family member has passed away; are you sure all their assets were accounted for? One quick way to determine if you have money coming to you is to check the California State Comptroller's website and perform ...