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Old 01-16-2012, 01:17 PM
 
541 posts, read 1,335,127 times
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I invested into a beautiful property in south california together with my husband.Joint tenancy with right of survivorship right now.Put property into a trust?have 2 estate lawyers,2 different opinions.

Do you own porperty with your wife/husband?did you decide to put it into trust or keep it as joint tenants with right of survivorship

i appreciate your answers

than you
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Old 01-18-2012, 02:23 PM
 
4 posts, read 4,146 times
Reputation: 16
Default Titles in holding property

If you invested joint with your husband you want community property with right of survivorship, a new title since 2001 in CA. The link explains the reason why.

Real estate / tax lawyer's explanation of Home Ownership Title; Joint Tenants; Joint Tenancy; Community Property; Step-Up in Basis
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Old 01-23-2012, 12:32 PM
 
541 posts, read 1,335,127 times
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we invested joint and we have the joint tenancy with right of survivorship..i just do not get,why would a lawyer want to change that,in case one dies???...if one of us dies,the property is non probate asset,it goes automatically to the other spouse...why the need to go into a trust in case one spouse dies???...more money for attorney to create trust...most likely...
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Old 01-23-2012, 01:12 PM
 
484 posts, read 818,969 times
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Quote:
Originally Posted by Buburuza13 View Post
we invested joint and we have the joint tenancy with right of survivorship..i just do not get,why would a lawyer want to change that,in case one dies???...if one of us dies,the property is non probate asset,it goes automatically to the other spouse...why the need to go into a trust in case one spouse dies???...more money for attorney to create trust...most likely...
It may be for tax purposes, but you should clarify that with your lawyer(s).
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