Posted on: 19th Jul, 2010 11:21 am
My mother is 76 years old. She lives in California and has a revocable living trust. My sister and I are named as trustees in the trust and will split the assets upon her death. My mother would like to leave her home to me though. Is is better to transfer this asset into the trust and try to amend the trust so that I inherit the home alone or title the deed on the home as Joint Tenants With The Right Of Survivorship? Or can we title the deed as JTWRS and then tranfer this asset into the trust? My sister lives in California near my mother but I live in Utah.
Your mother can revoke the trust and sign a new quit claim deed adding you to the property deed and the ownership of the property should be held as joint tenancy with rights of survivorship. This will make you the owner of the property and after your mother's death, you will get her share of the property automatically transferred in your name.