PROBATE - California Heggstad Petition - A Heggstad Petition is a legal tool in California used to transfer assets into a trust after the trust creator's death, even if those assets weren't formally included in the trust documents, thereby potentially avoiding probate.
The primary goal of a Heggstad Petition is to address situations where assets were intended to be part of a trust but weren't formally transferred or included before the trust creator (settlor, grantor, or trustor) passed away.
Heggstad Petitions are a type of petition filed under California Probate Code Section 850, which allows for specific remedies related to property held by or owed to a deceased person.
Common Scenarios:
- Real Property: A common scenario involves a house that was refinanced after the trust was created, and the property was transferred back into the settlor's name before they could transfer it back into the trust.
- Other Assets: Heggstad petitions can also be used for other assets like bank accounts, investment accounts, or personal property that were intended to be part of the trust but were not formally transferred.
How it Works:
- The successor trustee (or other interested party) files a petition with the court, explaining that the asset was intended to be part of the trust and providing evidence of that intent.
- The court reviews the petition and evidence to determine if the asset should be considered a trust asset, even though it wasn't formally transferred.
- If the court agrees, it issues an order confirming that the property is a trust asset, which can then be used to avoid probate.
By using a Heggstad Petition, it can be possible to avoid the lengthy and costly probate process for the omitted asset, ensuring that the settlor's wishes are honored and the assets are distributed according to the trust's terms.
The petition is named after the landmark case Estate of Heggstad, which established the legal basis for this type of petition.
Does not include any Third Party Fees, Court Costs or Efiling Filing Fees.
PROBATE - California Heggstad Petition
PROBATE - California Heggstad Petition - A Heggstad Petition is a legal tool in California used to transfer assets into a trust after the trust creator's death, even if those assets weren't formally included in the trust documents, thereby potentially avoiding probate.
The primary goal of a Heggstad Petition is to address situations where assets were intended to be part of a trust but weren't formally transferred or included before the trust creator (settlor, grantor, or trustor) passed away.
Heggstad Petitions are a type of petition filed under California Probate Code Section 850, which allows for specific remedies related to property held by or owed to a deceased person.
Common Scenarios:
- Real Property: A common scenario involves a house that was refinanced after the trust was created, and the property was transferred back into the settlor's name before they could transfer it back into the trust.
- Other Assets: Heggstad petitions can also be used for other assets like bank accounts, investment accounts, or personal property that were intended to be part of the trust but were not formally transferred.
How it Works:
- The successor trustee (or other interested party) files a petition with the court, explaining that the asset was intended to be part of the trust and providing evidence of that intent.
- The court reviews the petition and evidence to determine if the asset should be considered a trust asset, even though it wasn't formally transferred.
- If the court agrees, it issues an order confirming that the property is a trust asset, which can then be used to avoid probate.
By using a Heggstad Petition, it can be possible to avoid the lengthy and costly probate process for the omitted asset, ensuring that the settlor's wishes are honored and the assets are distributed according to the trust's terms.
The petition is named after the landmark case Estate of Heggstad, which established the legal basis for this type of petition.
Does not include any Third Party Fees, Court Costs or Efiling Filing Fees.