Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com can a felon be a part of your trust? Yes, the most important part of choosing a trustee is making sure that you trust them. And that can really be anybody that you want. Make sure that you choose somebody that you can rely on. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty #felonytiktok

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Avoiding probate is a key goal for many people when planning their estates because probate can be a time-consuming, expensive, and public process. The good news is that there are several effective strategies to avoid probate and ensure that your assets transfer smoothly to your beneficiaries. One of the best ways to avoid probate is by creating a living trust. A living trust allows you to transfer ownership of your assets to the trust while maintaining control during your lifetime. Upon your passing, the assets in the trust can be distributed directly to your beneficiaries without going through probate. Another effective method is to update your beneficiary designations on assets like life insurance policies, retirement accounts, and even bank accounts. These assets can pass directly to the named beneficiaries, bypassing the probate process altogether. Additionally, joint ownership with rights of survivorship is another way to avoid probate, as the surviving owner automatically inherits the property. You can also explore using transfer-on-death (TOD) or payable-on-death (POD) designations for certain types of accounts, which allow assets to pass directly to your chosen beneficiaries without probate. Gifting assets during your lifetime is another option, as it reduces the size of your estate and minimizes what might go through probate. If you’re interested in learning more about the best ways to avoid probate and live in California, follow the link in my profile to make an appointment with me. Let’s discuss how to protect your estate and ensure a smooth transition of your assets to your loved ones.

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com legal zoom is primarily a document preparation service. It does not connect you with a lawyer that you have an attorney client relationship with and can sue for malpractice if they screw something up. Make sure an estate plan was set up with a qualified estate planning lawyer. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty #LegalZoom

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com akinson and smith family put mom‘s house inside of a trust by using a power of attorney? Maybe. It depends on your jurisdiction and the way that the power of attorney document is written. Most county governments are going to want to see specific language about real estate transactions and estate planning transactions. #PowerOfAttorney #CountyClerk #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Smith sell a home that’s already in a trust? Sure, why not if it is a revocable living trust property can be added, and taken out of that trust whenever the trust maker chooses. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

LEARN MORE: https://www.ocestateplanlawyer.com Are you trying to figure out the best way to leave your home to your kids? In this podcast, I break down three common methods, discussing the pros and cons of each, so you can make an informed decision. Whether you’re considering gifting your home during your lifetime, adding your kids to the deed, or using a living trust, this podcast will provide valuable insights to help you protect your assets and minimize taxes. Please comment with your estate planning question. I am usually able to respond with an answer and sometimes. . . even a video! FREE ESTATE PLANNING STRATEGY SESSION: https://calendly.com/mpevney/strategysession Call Us: (949) 377-2996 What You’ll Learn: 1. Giving Your Home to Your Kids While You’re Alive: Gifting your home outright can help you avoid probate, but it comes with significant downsides, such as capital gains tax implications and losing control of your property. 2. Adding Your Kids to the Deed: This method can also bypass probate, but it has its own risks, including potential conflicts between siblings, property tax reassessment, and exposure to capital gains taxes. You also risk losing control over your property if your kids are co-owners. 3. Using a Living Trust (The Best Method): Placing your home in a revocable living trust allows you to maintain control while avoiding probate and minimizing tax burdens. I explain how a trust can provide a step-up in basis, eliminating capital gains taxes for your heirs, and protecting your property from potential risks. This is the most effective and flexible option for most families, especially in California. Why It Matters: Leaving your home to your children involves more than just a simple transfer of ownership. Without proper planning, your kids could face significant financial and legal challenges, including capital gains taxes, property tax reassessment, and potential disputes over the property. By understanding the pros and cons of each method, you can make a decision that ensures your assets are passed on smoothly and efficiently. Get Professional Help: Setting up a living trust and ensuring your estate plan is properly executed requires careful planning and professional guidance. Whether you need advice on creating a trust, minimizing taxes, or avoiding probate, I offer personalized legal advice tailored to your unique situation. Visit OCEstatePlanLawyer.com to learn more, or set up a free consultation with me today by clicking here. Stay Connected: If you found this video helpful, don’t forget to like, subscribe, and share it with others who might benefit from this information. Follow this channel for more estate planning tips, and feel free to leave any questions in the comments—I’m here to help you protect your family’s future.

Are you wondering if a home with a mortgage can be placed into a living trust? The answer is yes! In this video, I’ll walk you through the step-by-step process of transferring your mortgaged home into a trust, explain how ownership is affected, and address the important details surrounding due-on-sale clauses. Whether it’s your primary residence, vacation home, or rental property, understanding the rules can help protect your assets and loved ones while avoiding costly probate. If you’re a California resident and know it’s time to set up your estate plan, visit www.ocestateplanlawyer.com for more information. Ready to take the next step? California residents can schedule a free estate planning strategy session with me by clicking this link: https://calendly.com/d/3p9-883-5j2. Don’t forget to like, share, and subscribe for more expert guidance on estate planning, and feel free to ask your own questions in the comments—there’s a good chance we’ll answer them in a future video! What You’ll Learn in This Video: 1. Can a Home with a Mortgage Be Placed in a Living Trust? Yes, you can place a home with a mortgage into a living trust, and I’ll explain why it’s allowed. The lender’s lien on the property remains intact, so the transfer doesn’t affect their security interest. For primary residences, the federal Garn-St. Germain Act protects you by ensuring that transferring your home into a trust won’t trigger the due-on-sale clause. This means your mortgage terms stay the same, and the lender cannot demand immediate repayment simply because you moved the property into your trust. 2. Understanding Due-on-Sale Clauses for Non-Primary Residences: While primary residences are protected under federal law, vacation homes, rental properties, or other non-primary residences might not be. I’ll cover how lenders may enforce due-on-sale clauses in these situations, what that means for you, and how to navigate this issue. Understanding these differences is crucial for ensuring your estate planning process is smooth and legally sound. 3. How to Transfer a Mortgaged Home into a Trust: In this section, I’ll provide a clear, actionable guide on how to transfer your home’s title into your living trust. This includes: • Ensuring you’re the legal owner of the property • Creating the trust with the help of an estate planning attorney • Preparing and filing a new deed with the county recorder’s office, which transfers ownership from yourself to yourself as the trustee of the trust • Notifying your lender if necessary, and understanding when this step is required, especially for non-primary residences 4. Ownership and Control After the Transfer: After the transfer, you retain control over your property as the trustee, and your mortgage terms remain unchanged. I’ll explain how the title is updated to reflect the trust as the owner, and what this means for your day-to-day management of the property. 5. Benefits of Placing a Mortgaged Home in a Trust: The primary benefit of placing your home into a living trust is to avoid probate. I’ll dive into how this can save your heirs time, money, and the headache of dealing with the court system. Additionally, by transferring your home into a trust, you ensure that it is managed according to your wishes in the event of incapacity, and that it passes seamlessly to your beneficiaries when the time comes. Why Avoiding Probate is Crucial: Avoiding probate isn’t just about saving time and money; it’s about ensuring your loved ones can inherit your property without legal complications. A living trust allows for a smooth transition, free from the delays and costs associated with the probate process. By placing your home in a trust, you protect your heirs from potential disputes and ensure your estate is handled according to your wishes. Common Misconceptions: I’ll also address common misconceptions, like the belief that you need to pay off your mortgage before transferring your home into a trust. That’s not the

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com #onthisday it is important to find a trust, making sure we put things inside of the trust. without putting real estate, financial assets, and personal property inside of a trust either while you are alive or as a beneficiary when you pass away, the living trust has no power. ##EstatePlanning##LivingTrust##FillThatBucket##Pevney##financialfreedom##orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Property Taxes Do NOT Go Up If You Put Your Home In A Trust

LEARN MORE: https://www.ocestateplanlawyer.com What happens to your assets if you pass away without any form of estate plan—no will, no trust, nothing? In this video, we delve into the complexities of dying without an estate plan, especially in California. We’ll guide you through the legal process that unfolds when someone passes away without any plans in place. Whether you’re married, single, or have children, the state has specific rules that determine how your property is divided. We explore key concepts like community property versus separate property, and how these distinctions affect what your spouse or children will inherit. You’ll also learn about the state’s “table of consanguinity,” which dictates how distant relatives, like third cousins, might end up with your assets if no closer family members are found. But there’s a better way to ensure your wishes are honored. We discuss why having an estate plan—especially a revocable living trust—can avoid the costly and time-consuming probate process, maintain privacy, and give you control over who inherits your estate. From avoiding probate to safeguarding your legacy, we cover the essential steps you need to take to protect your loved ones and your assets. If you’re in California and ready to secure your future, we invite you to schedule a free consultation through the link in the description. Don’t forget to like, subscribe, and follow us for more expert insights on estate planning! FREE ESTATE PLANNING STRATEGY SESSION: https://calendly.com/mpevney/strategy... Email Us: [email protected] Call Us: (949) 377-2996 https://calendly.com/mpevney/strategy... SUBSCRIBE & TURN ON NOTIFICATIONS FOR MOE VIDEOS LIKE THIS: ⭐⭐⭐⭐⭐ CHECK OUT OUR GOOGLE REVIEWS: https://goo.gl/maps/8tS3Jset7EfPmaLe7 ⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯ Follow Pevney Estate Planning On Social Media: YouTube: / @estateplanlawyer Facebook: / ocestateplanlawyer Instagram: / estateplanlawyer TikTok: / estateplanlawyer Disclaimer: this video and content is for general information only. The information presented should not be construed to the formal legal advice nor the formation of an attorney/client relationship. Nothing hearing is intended to nor constitutes an guarantee, warranty or prediction regarding the outcome of your legal matter. ⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯ Free Estate Planning Strategy Session For California Residents: https://calendly.com/mpevney/strategy...