My question involves estate proceedings in the state of: CA
My deceased mother had her home and bank account in a living trust. I am the successor trustee and my two sisters and I are the beneficiaries. Two of us would like to buy out the third sister from her share of the home (there is no mortgage or outstanding debt). I had planned distributing the entire balance of the trust bank account to the sister we want to buy out, which happens to add up to her 1/3 of the house value and 1/3 of the bank account value.
Also, I currently live in the house and will continue to live here. The house is under Prop 13, and I would like to keep it that way - would it transfer to me if the deed to the house changes to my name?
How do I do this properly?
My deceased mother had her home and bank account in a living trust. I am the successor trustee and my two sisters and I are the beneficiaries. Two of us would like to buy out the third sister from her share of the home (there is no mortgage or outstanding debt). I had planned distributing the entire balance of the trust bank account to the sister we want to buy out, which happens to add up to her 1/3 of the house value and 1/3 of the bank account value.
Also, I currently live in the house and will continue to live here. The house is under Prop 13, and I would like to keep it that way - would it transfer to me if the deed to the house changes to my name?
How do I do this properly?
Trust Administration: Proper Way to "Buy" Sister's Share Out of House Held in Trust
Aucun commentaire:
Enregistrer un commentaire