Archives for posts tagged ‘trust’

Post death funding of trust with a “Heggstad Petition” in probate court

In the Estate of Heggstad (1993) 16 Cal.App.4th 943, 20 Cal.Rptr.2d 433, the court determined a written declaration of trust by an owner of real property was sufficient to create a trust. The Heggstad court did not require a separate deed transferring the property to the trust.  So a trust may be funded after the […]

Post death funding of trust with “850 Petition” in probate court

An 850 petition is filed pursuant to California Probate Code Section 850 by the Trustee who has a claim to real or personal property, title to or possession of which is held by another. The “another” is usually a bank or banks with accounts in excess of $150,000. Otherwise a Section 13100 declaration would be […]

Assets Titled inTrust Avoid Probatte

Assets transferred into a Trust avoid probate A Trust is a contract between the creator of the Trust, (the “Settlor”) and a Trustee for the benefit of another person, (the “beneficiary”). The Trust is created while the person is living, hence the term “living trust.”  Typically at the date of creation of the Trust the […]