How we can help

Where to begin…

Step 1: Determine the Home’s True Market Value.

How to Determine True Market Value?

Step 2: Is There a Trust?

Trusts are generally intended to make is easier and less expensive for the management and disbursement of a person’s assets should they become incapacitated, or not competent, or pass away. When a person or persons creates their Trust, their assets including real estate, bank accounts, etc. are generally put in the name of the Trust. The Trust becomes the owner and those empowered to make decisions regarding the assets and directives of the Trust are known as Trustees. Without a Trust, with just a few exceptions (see the 8 Exceptions to Avoid Probate), the only other way to distribute and manage a person’s assets in the event of their death is Probate.

If the home is NOT in a Trust go to Probate Sales vs Trust Sales.

Step 3: Confirm if the property is actually in the Trust.

There may be a Trust, however it is not uncommon that the Makers of the Trust forgot to actually transfer their properties and other assets into their Trust. If the property is not currently owned in the name of the Trust, there may be options to get it transferred to the Trust but it is not automatic. Ideally the home is already in the name of the Trust.

Step 4: Obtain a copy of the Trust:

This of crucial. Trusts are NOT generally public or recorded, so you have to find the Trust Documents. The Trust documents not only outline the wishes of the Makers of the Trust, but also who has the decision-making authority, who controls the assets, accounts, and property owned by the Trust. These are the Trustees. A Trustee can be the original Maker(s) of the Trust, a Successor Trustee, Co-Successor Trustees or a Sole Trustee. If you can’t find the Trust Documents, then Probate is likely required.

Step 5: Determine the Trustees or Successor Trustees:

Is there just one or multiple Trustees? Does the current Trustee(s) want the responsibility or do they want to assign that duty to someone else. The Trust will stipulate how Trustees are determined.

How we can help:

  • We can quickly, normally in 1 business day, determine if the property is actually owned by a Trust and provide you the legal name of the Trust.

  • We can meet with you, *Free of Charge, to help you get a better understanding of the process, what you are going to need to do next, help you know the right questions to ask and who you should consider talking with. This can be done in person at out Santa Clarita office, or via a group video meeting so all interested parties can participate regardless of their location.

  • We can also connect you with a qualified Estate Planning Attorneys who will help you understand the terms of the Trust, help determine who are the Trustees, and the intentions of the Maker(s) of the Trust. This can be very helpful if the attorney who drew up the Trust is not available, not local, or if you simply want a 2nd opinion on your options.

  • *Why don’t we charge for this? As licensed REALTORS, we don’t charge by the hour. A consultation with us can save you time and therefore money when you are meeting with professionals who DO charge by the hour. By providing you helpful information, all we ask is that you consider our Real Estate services should you decide to sell a home. There is no obligation.