Ten Real Estate Questions to Ask while Creating Your CA Estate Plan

For many people creating a California estate plan, real estate makes up a large portion of their overall estate. There are many considerations to take into account when including real estate in your estate plan. It is not always as straightforward as simply choosing a beneficiary to receive the property following your passing. Fortunately, an experienced Orange County estate planning lawyer can assist you through this process.

When drafting your estate plan, there are many factors that you should consider while deciding who should receive your real estate, under what terms they should receive it, and at what time. The following are ten examples of questions to assess when addressing real estate in your Orange County estate plan: 

  • Who do you want to receive your real estate?
  • How old is the potential beneficiary of your real estate?
  • Where does your potential beneficiary currently live?
  • Do you want your executor or trustee to sell the real estate and distribute the proceeds?
  • Do you want to allow a beneficiary a right of first refusal to purchase the real estate?
  • Who will be responsible for the expenses of the property, including taxes and upkeep, during the administration process?
  • Do you want to allow your beneficiary to live in the property during or after administration?
  • Are there other owners of the property currently?
  • Is there a mortgage on the property?
  • What is the value of the property in proportion to the other assets of your estate?

To learn more about what to think about when beginning the estate planning process, view our free guide, The Ten Things You Must Know Before Creating (or Amending) your Will or Trust. Contact the experienced Orange County estate planning attorneys at the Law Office of James F. Roberts & Associates, APC for more information guidance. Call our office today at (714) 459-5481 for a consultation.

James F. Roberts
Founder and owner of the Law Office of James F. Roberts and Associates, a premiere estate planning law firm