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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 CA 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?

Creating an estate plan often involves decisions about real estate. View here for ten questions to consider by your CA estate plan attorney.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.

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Due to the CoVid19 virus California has issued a Stay-at-Home order. We understand how important the health and safety of our clients, and our staff is. We are complying with this order by continuing to work from our homes. While we are not in the office, we are still here to answer your questions, conducting consultations for review, and initial appointments by phone and email during normal business hours. We know that in this time, more than ever, it is important to have peace of mind about your estate planning. We are here to help you through this. Call our office number or email us and we will respond as quickly as possible.