Tuesday, November 8, 2011

Essential Elements to Establish a California Revocable Living Trust

REVOCABLE LIVING TRUST 

Most people hold title to California real property these days in the name of a "Trust". 

Experienced Realtors and real estate professionals understand what is required and the essential elements to establish a Revocable Living Trust in California:

1.  Intent to make a trust (California Probate Code section 15201)

2.  Mental Capacity by the "trustor" to make the trust

3.  A trust must have property (CA probate code 15202)

4.  There must be a legal purpose to a trust (CA probate code 15203)

5.  A trust must have a beneficiary (CA probate code 15205)

6.  A trust must generally be in writing (CA Statute of Frauds) with rare exceptions (CA probate code 15206 and 15207)

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TRUST AND PROBATE PROPERTY

Professional REALTOR® agent representation and help for private trust estate representatives, estate administrators and executors, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, and bankers, with listing and sale of trust and probate estate properties at Orange County, CA

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HARRISON K. LONG - REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage - 949-854-7747 (phone) – ExploreProperties@gmail.com (email) - CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – now serving as an appointed director at the California Association of REALTORs® - also a lawyer licensed by the California State Bar, member #69137.

This is for information only and not the providing of legal or tax services.  You should always contact an estate planning and tax lawyer in California for advice and direction about your own situation.  If you are a trustee or an estate representative with property to sell, contact us about listing and selling of such Orange County CA Real Estate.  

Posted via email from Explore OC Homes

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