Hi, as a Brit I have been thinking lately of setting up a living Trust for my children. I have always avoided watching US content as the I assumed it would be irrelevant here. Surprisingly not so, way back in time I would assume your country must have adopted our system as the jargon and processes seem to be the same as ours here in the UK. Very interesting explanation. Thank you I am now convinced to proceed to the tenants in common and set up a living trust.
My father (common law) recently did a will. Jan 21 he had a joint tenancy and he died feb 12…. I am the executor and poa but my sister has taken over everything
A lot of the phrases you are using don’t quite make sense out of context. Common law is something that refers to a way couples that are unmarried sometimes hold property. Title trumps your will. A joint tenancy title typically goes to the joint tenant owner. A POA relationship terminates when someone dies so the POA won’t have any affect.
No, but I should. Married couples should typically take the property as community property because it’s typically better for capital gains taxes. Naming a property in trust is even better though.
