What exactly is a Certified Probate Real Estate Specialist? Glad you asked!
If you find yourself responsible to manage a probate or trust sale Broker Beth Moran has been selling real estate since 1999 and knows how to guide you through the process. As a Certified Probate Specialist Beth understands the complexities of a probate settlement or trust sale in California and will provide an outline so you feel confident that you are meeting expectations to complete your transaction. The difference between a probate and a trust is defined by the courts. A probate action is done by the court to determine how to best settle an estate where there has not been a will to direct the distribution of assets. A trust is a document that has recorded the will of the deceased and requires an executor or representative to handle the specifics outlined in the trust. When you are ready call Beth to schedule a time to preview the home and get started with the next step in your particular sale.
Articles – Good topics for articles include anything related to your company – recent changes to operations, the latest company softball game – or the industry you’re in. General business trends (think national and even international) are great article fodder, too.
Real estate is a highly profitable and emotional industry and can be challenging, so choosing your broker can mean the difference between a highly successful sale and going to court over a dispute. As a fiduciary, brokers are called upon to represent all parties to the utmost integrity of the law and Beth Moran has made that her mission since 1999. Her experience in mediation and dispute resolution, her architectural training and her practical construction knowledge assures clients that Beth has their interests in the forefront of their sale.
Executive profiles – A company is only as strong as its executive leadership. This is a good place to show off who’s occupying the corner offices. Write a nice bio about each executive that includes what they do, how long they’ve been at it, and what got them to where they are.
The individual or corporation who legally has
charge of the care and management of the person,
property, or both of an adult who is unable to
provide for his own personal needs or who is
substantially unable to manage his financial affairs.
Limited conservatorships may be established for
developmentally disabled adults.
One to whom distribution is dependent upon the
occurrence of an event.
A written statement made under penalty of perjury.
Devisees and Legatees
Persons named by a decedent in his will. A bequest
or devise generally refers to real property and a
legacy of money or personal property.
A refusal to accept, for example, a testamentary gift
that is made in a prescribed manner and time.
The specific location of a person’s permanent
residence that determines, for many purposes, the
laws that will govern his affairs. A person may have
many residences, but he can have only one domicile.
The domiciliary proceeding is that created in the
jurisdiction of the decedent’s domicile.
A person who receives a gift from another.
A person who makes a gift to another.
The term which describes the reversion of property
to the state in the event a person dies leaving no
valid will and no heirs at law surviving him.
Estate Taxes – Federal
The death taxes imposed the federal government
on the transfer of assets upon death.
The individual or corporation appointed in a will by
a testator to take care of the testator’s property after
his death. Also called a personal representative.
A judicial proceeding granted without notice.
A person charged with a high degree of care who
acts on behalf of another. Executors and trustees
The individual or corporation who makes a
grant (transfer) of property to another person
(e.g., grantor of a trust, grantor of a deed of
The individual or corporation who legally has
charge of the care and management of the
person, property, or both, of a child during his
The person who inherits property under state law.
The taxes imposed, according to the
relationship to the decedent, on the person who
receives the property.
Refers to someone who dies leaving no will.
Inter Vivos Trust
A trust created “between the living.” The grantor
(trustor) is a living person. An inter vivos trust can
be either revocable or irrevocable.
A trust whose terms and provisions cannot be
changed, modified, altered, amended, or revoked.
A form of property ownership by two or more
persons, often designated as “joint tenants with
right of survivorship.” Joint tenants always own
equal parts of joint tenancy property. When a
joint tenant dies, his or her interest in the property
automatically goes to the surviving joint tenant.
An interest in property, the term of which is
measured by the life of its owner.
The person who receives the benefits from the real
or personal property during his lifetime only. The
benefits stop when he dies.
A person who is under the age of legal competence.
This term describes an executor or administrator.
Power of Appointment
The actual power of legal authority given by
the trust or will of one person, the “donor” of the
power, to a second person, the “done” of the power,
which enables the second person to designate the
manner of disposing of the property. A power of
appointment may be general or special, as defined
Enables the donee to designate himself, his
creditors, his estate, the creditors of his estate, or
any other person, as owner of the subject property.
Limits the done as to the persons to whom he can
designate as owners of the property over which
he has a power of appointment. The limitation of
appointment can be very specific (e.g., to a group
consisting only of A’s children) but can never be
the done, his estate his creditors, or the creditors of
his estate because this would defeat the purpose of
the special power, namely, to keep the appointive
property from being taxed in the estate of the done
on his death.
A will that provides for the transfer, after or during
the probate court proceedings, of all or part of the
net assets of a decedent’s probate estate from the
executor’s control to the control of a trustee who is in
charge of a trust that was in existence immediately
before the death of the deceased person (inter
One who would normally be beneficiary of the
decedent but who is not mentioned in the will.
The legal process whereby a probate court
supervises the marshalling of a deceased person’s
debts and taxes and orders the property distributed
according to decedent’s will, or in its absence, to
the deceased person’s heirs. The probate court has
jurisdiction over the personal representative and
the decedent’s assets.
In California only, that property acquired by a
decedent while living outside California, which, if
acquired in California, would have been community
property. For federal estate tax purposes, quasicommunity
property is treated like separate
An interest in land or property permanently affixed
An ownership interest in property that will become
a present interest after the present owner or life
tenant has received all the property benefits to
which he is entitled.
The remaining part of a decedent’s estate after
the payments of debts and legacies. Also called
One to whom all or part of the residue is distributed.
An ownership interest in property that returns to
the original owner when the intervening interest
A trust whose terms and provisions can be changed,
modified, altered, amended, or revoked.
Right of Representation
A method of distribution, sometimes referred to as
“per stirpes,” whereby the share of distribution of a
deceased beneficiary is divided equally among his
In California, a category of property between
husband and wife that is not community property
or quasi-community property, but that is owned
separately by the husband or wife.
Another word for grantor or trustor of a trust. The
person who “settles” the assets into the trust.
Tenancy In Common
A form of holding title to real or personal property
by two or more persons. Because there is no right
of survivorship, the legal relationships and results
are very different from joint tenancy. Tenants in
common need not hold equal interest, and on the
death of a tenant in common, his interest will pass
by his will or according to the laws of intestate
The trust that comes into being only as a result of
the death of a person whose will provides for the
creation of the trust after his death, hence, the term
“testamentary.” Once in existence, this trust is
Refers to someone who dies leaving a will.
The person who signs the will that disposes of his
property; testatrix is the female term. It is common
as a convenience to use the term testator for either
a man or a woman.
A form of revocable trust, usually a bank account,
that allows distribution to the beneficiary upon the
death of the trustee, without the need for probate of
the asset. Example, John Jones as Trustee for Mary
A legal entity established either during a trustor’s
lifetime (inter vivos) or at his death (testamentary).
The trust is governed by the terms set forth in the
trust documents. A trust must have a trustee, a
beneficiary, and a “corpus” or property subjected
to the trust.
The individual or corporation who in a trust has bare
legal title to the assets and has the power given in
the trust to carry out the wishes of the person or
persons (trustor or trustors) who created the trust.
The trustee has a fiduciary obligation to the trust’s
beneficiaries enforceable in court if not carried out.
The trustee is subject to strict regulation. Although
he has legal title for convenience, the beneficial or
equitable title is in fact owned by the beneficiaries.
When there is more than one trustee, the trustees
are called co-trustees.
The person or persons who establish a trust. There
can be more than one trustor.
Uniform Gifts to Minors Act
A law that permits a person (“donor”) to register
stock, bank accounts, or insurance in the name of
another (“custodian”) for the benefit of one who
is at the time a minor (“beneficiary”) without
preparing a formal trust document. In effect, the
trust document has been written into the law. In
so doing, the donor makes an irrevocable gift of
the property to the minor, but the custodian holds,
invests, reinvests, and applies the property for the
benefit of the minor until his majority, at which time
the property is turned over to the beneficiary. This
is a simple, inexpensive way to make small gifts to
A document, prepared and executed by a person
with the formality required by the laws of the state of
his domicile at the time, which is intended to govern
and direct the disposition of his estate and settlement
of his legal affairs at the time of his death and which
has no legal effect until his death. If the document is
entirely in the person’s own handwriting, it is called
a “holographic will.” If a will is typed, it is called a
“witnessed will” because the signing of it generally
requires two or more witnesses to testify later, if
necessary, that the execution was not procured by
fraud, duress, or misrepresentation.