In California’s fast-paced real estate market, particularly in areas like Newport Beach and Coastal Orange County, it’s not uncommon for individuals to have established trusts as part of their estate planning. However, sometimes, even with the best intentions, certain assets—like real property—are not formally transferred into the trust before the property owner’s death. This oversight can occur for various reasons, such as illness, oversight, or simply not realizing the importance of formally transferring the property.
When this happens, the intended transfer of real estate into the trust is incomplete, potentially leading to a lengthy and costly probate process. Fortunately, California probate law provides a solution: the Heggstad petition.
Common Scenarios for Heggstad Petitions
A Heggstad petition is often necessary when:
- Illness: The decedent was too ill to complete the transfer into the trust.
- Paperwork Errors: Flawed documentation resulted in a failed transfer.
- Forgetfulness: The decedent simply forgot to transfer the property.
- Lack of Awareness: The decedent did not realize that the property needed to be transferred into the trust.
In these situations, the Heggstad petition allows the property to be transferred directly into the trust, bypassing the lengthy and often costly probate process. A successful petition results in a court judgment confirming that the property in question is part of the trust, despite not being formally transferred before death.
The Key to a Successful Heggstad Petition
The cornerstone of a successful Heggstad petition is demonstrating the decedent’s intent to include the assets in the trust. This intent can be proven through documents such as a schedule of assets or a signed trust document, which are essential for the court’s consideration. Typically, the entire Heggstad petition process takes between two to four months.
How Lucas Real Estate Can Assist
At Lucas Real Estate, we understand the complexities involved in estate planning and property transfers. Our expertise in luxury real estate, coupled with our deep understanding of legal processes, positions us to effectively guide you through the Heggstad petition process. We collaborate with top legal professionals to ensure your real property is secured in your trust, safeguarding your assets and your legacy.
Whether you’re dealing with real estate in Newport Beach, Costa Mesa, or other coastal Orange County communities, we are here to assist. Our team is dedicated to helping you navigate the challenges of estate planning with confidence and clarity, ensuring that your real estate transactions are handled with the utmost professionalism.
Contact us today to learn more about how we can support you through the Heggstad petition process and beyond.
For more insights and professional real estate services in Newport Beach, Costa Mesa, and the coastal areas of Orange County, contact Lucas Real Estate today. Let us guide you through your next property transaction with confidence and clarity.
Contact us anytime via phone (949-478-1623) or email ([email protected])
Lucas Real Estate – Your Partner in Luxury Real Estate and Legal Guidance in Newport Beach and Coastal Orange County
– Devin Lucas
Author Devin R. Lucas is Real Estate Professional – a Real Estate Attorney, Broker and REALTOR® – specializing in Newport Beach, Costa Mesa and Orange County coastal communities, serving individuals and Trustees in residential real estate.
Lucas Real Estate – Attorney Devin Lucas and CPA Courtney Lucas – are experts in California Real Estate sales, capital gains issues and property tax matters including Propositions 13, 58, 193, 60, 90 and new Proposition 19.
To discuss selling your home:
[email protected] | 949.478.1623 office | Or schedule a confidential no obligation call using this link
Legal or Tax Planing Questions? – Paid one-hour confidential legal consultations are conducted daily via Zoom and address virtually all questions, options, tax implications and strategies. (Book a consultation here.)
Sign up for our Newsletter here
Lucas Real Estate
REALTORS® and related Real Estate Law & Tax Considerations
Lucas Real Estate is a unique full-service residential real estate brokerage providing related residential real estate legal services and real estate tax considerations and planning, based in Newport Beach, California. | Devin Lucas is a licensed California Real Estate Attorney, Real Estate Broker and REALTOR® | Courtney Lucas is a California licensed CPA and REALTOR®
Check out our countless 5-star reviews and follow us on social media:
| Google Reviews | Yelp | LinkedIn | Zillow | Avvo | Facebook | Twitter | Instagram | YouTube | Official Site | Blog | Newsletter |
Sign up for our Newsletter here
lucas-real-estate.com | [email protected]
949.478.1623 office
2901 West Coast Highway Suite 200
Newport Beach | California | 92663-4023
Photo by Melinda Gimpel on Unsplash
—-Disclaimer —- The content on this blog is for informational purposes only. Nothing on this blog should be construed to be legal advice, and you should not act or refrain from acting on the basis of any content on this blog without seeking appropriate legal advice regarding your particular situation, from an attorney licensed to practice law in your state. The content on this blog is not guaranteed to be correct, complete, or up to date. Devin R. Lucas’ office is in Newport Beach, California and is only licensed to practice law in California. Please be advised that Devin R. Lucas only provides legal services or advice pursuant to a written legal services agreement. The content on this blog is not intended to, and does not, create an attorney-client relationship between you and Devin R. Lucas, nor does our receipt of an email or other communication from you. Some jurisdictions may consider this site to constitute attorney advertising; accordingly, please be advised this is an advertisement.
IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with requirements imposed by the IRS, we inform you that, to the extent this communication (or any attachment) addresses any tax matter, it was not written to be (and may not be) relied upon to (i) avoid tax-related penalties under the Internal Revenue Code, or (ii) promote, market or recommend to another party any transaction or matter addressed herein (or in any such attachment).
