Bankruptcy

 If you have found yourself 'up-side-down' in your financial situation, there is hope. Student debt, high healthcare costs, and an increased cost of living, in general, are making things hard for millions of Americans. Fortunately, there is a way to achieve a fresh-start where you can breath again.  I can help you sort through this process to find the right Chapter for your situation and then file for you.

 Probate 

If you've ever lost a loved one and had to administer their estate, then you know the seemingly insurmountable stress and the overwhelming pressure that accompanies it.  There are funeral arrangements, family obligations, and all of that person's belongings to go through, and that's just the tip of the iceberg.  If they had a will or died intestate their estate will likely need to go through probate. Allow me to guide you through this arduous process and take care of the mounds of tedious court forms so you can deal with what's really important.

  

   A life estate is a type of property interest that allows an individual, known as the "life tenant," to use and possess a piece of property for the duration of their lifetime. After the life tenant passes away, the property will pass to the "remainderman," who holds the future interest in the property.

 

  Life estates can be created in a variety of ways, such as through a will, a trust, or a deed. The individual who creates the life estate, known as the "grantor," can choose the life tenant and remainderman, and can set the terms of the life estate.

 

  One of the main benefits of a life estate is that it allows the life tenant to use and possess the property during their lifetime, while also providing for a future interest in the property for the remainderman. This can be useful for estate planning purposes, such as to ensure that a family home stays in the family for future generations.

 

  Life estates also have some tax benefits, as the value of the life estate is typically much lower than the full value of the property. This can help to reduce the value of the grantor's estate for estate tax purposes.

 

  It's important to keep in mind that life tenants have certain rights and responsibilities when it comes to the property. They are responsible for the property's maintenance and upkeep, and they cannot make changes to the property that would negatively impact the remainderman's interest. Life tenants do not own the property and cannot sell, mortgage or transfer the property without permission from the grantor or the court.

 

  Life estates can also be complex. I can help you understand the rights and responsibilities of all parties involved. 

 

 

 

Photo by Todd Kent 

Contact Me

Phone  (209) 996-5711 

Email Stacy@serratolawpractice.com 

P.O. Box 325, Coulterville, CA 95311