California Heggstad Petition

I have blogged several times before about the California Heggstad petition. It’s a way to get an asset into a trust after death without going through a full probate. However, I had to think about it how many different ways I have seen people ask about this petition? The official case, that generated the “law” is called THE ESTATE OF HEGGSTAD.  I pronounce it “heg-stad” but I have heard other similar pronunciations. However, let’s see how many ways we can write it: heggstad, hegstead, heggstead, hogshead, hegstid, hodgested, hagstead, hagsted, hegsted, hegstand, hegstan, hedgehog, hedgeand, hedgestad, hedgestead and how many more can we list!?  Let me know if you have any thoughts on names for this. Also, let me know if you have questions on this great law whatever you call it
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Refinance Your Heirs into a Probate

People throughout California create revocable living trusts to avoid probate Court after death. It’s smart. It’s simple economics. If you have a $500,000 gross estate probate will be over $15,000 after your death.  Having a living trust, which may cost $2,500, will avoid probate. That doesn’t even factor in the emotional cost of probate. Just simple economics says living trust good and probate bad.  However, many people have been lured by incredibly low interest rates to re-finance their homes. Typically mortgage companies will not loan money to a trust and thus the title and escrow companies require a deed to be signed which pulls the house OUT OF THE TRUST.  Most title companies are not good about preparing a deed to put the house back IN to the trust. Likewise, many people do n
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