What If One Child Wants To Buy Their Siblings Out Of The Parents' House
Passing It On: Estate Planning for Families · Michael Pevney
October 16, 20231m 47s
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Show Notes
Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com if a home is going to be left to children after parents pass away, sometimes one child wants to buy the other siblings out of their share. The problem is, if the house isn't currently in a trust, and there isn't currently in a state plan in place, this can't be done until the Home goes through the entire probate process, which, in California can take up to two years. the better solution, is for the parents to set up a living trust, place the home inside of the trust by using a quitclaim, or grant deed, and make specific provisions about what is supposed to happen with the Home after they pass away. #Deed #EstatePlan #Siblings #ParentsDying #FillThatBucket #Pevney.