Real Property In California: It will be necessary to and record a new deed in a position to to transfer title of real property to your trust. It is also necessary to submit a first Change of Ownership Report with the deed notifying the local county assessor as to whether the property is subject to reassessment. A transfer the revocable living trust is exempt from reassessment.

If you wish to disinherit a son or daughter, be specific spell it all out in your will very clearly and specifically, in respect to your states rules. Describe that you are acting intentionally, but don't specify a cause either, since that can produce ammunition to challenge the disinheritance.

As someone wealth management advisor, I've been helping clients from both categories. Those who have accumulated considerable wealth would like to hang in order to it