This form is a Uniform Statutory Form of Power of Attorney for California for property, finances and other powers you specify. It also provides that it can be durable.
This form is a Uniform Statutory Form of Power of Attorney for California for property, finances and other powers you specify. It also provides that it can be durable.
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You can complete probate on your own, but an attorney can make the process easier.
If all your property is in trust when you die (or become incompetent), then legally you don't own anything in your name. This means, if you die, no probate (formal court administration of a decedent's estate) is needed to pass your property on to your beneficiaries.
Assets that should not be used to fund your living trust include: Qualified retirement accounts ? 401ks, IRAs, 403(b)s, qualified annuities. Health saving accounts (HSAs) Medical saving accounts (MSAs) Uniform Transfers to Minors (UTMAs) Uniform Gifts to Minors (UGMAs) Life insurance. Motor vehicles.
When a trustee dies leaving real property to beneficiaries, the successor trustee can use an Affidavit Death of Trustee and a Quitclaim Deed to transfer the real property to the new owners. The instructions explain exactly what to do, including how to complete, notarize, and record both forms.
In California, you can make a living trust to avoid probate for virtually any asset you own?real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).