009: Navigating Real Estate Law: Insights on Probate, Property Disputes, and Estate Planning with Jennifer Felton

Probate Notes: Your Guide to Navigating California Probate Law

Ever wondered how real estate law intertwines with probate to affect the transfer of property?

Join Sam for this episode of Probate Notes, as he unravels these complexities with insights from Jennifer Felton, an accomplished attorney who has transformed challenges in the escrow world into a thriving legal career. Jennifer shares her journey from being an escrow officer to owning a renowned real estate law firm, explaining how her firm adeptly balances supporting real estate businesses and assisting consumers with estate planning and property disputes. Discover the nuances of transfer-on-death deeds in California and how they serve as a cost-effective alternative to traditional estate planning for property transfer without the need for probate.

What happens when siblings inherit a property and can't reach a consensus on what to do next? Jennifer Felton untangles the maze of partition actions, unpacking the legal tools available for resolving property disputes among siblings. Sam and Jennifer highlight the often-overlooked right of first refusal for siblings living in inherited properties and the hurdles they face in executing a buyout at fair market value. Their conversation extends to the impact of California's Proposition 13 and Proposition 19 on property taxes and inheritance, providing clarity on how the court can step in to mediate when co-owners are at an impasse.

Estate planning can be a minefield if not navigated carefully. Through real-world examples, Jennifer delves into the repercussions of altering joint tenancy agreements without legal guidance and the ensuing legal quagmires. Sam and Jennifer explore the financial pitfalls associated with small estate affidavits and the hidden costs of cutting corners on thorough estate planning.

From the role of probate referees in property valuation to the duties and liabilities of inheriting property, this episode offers cautionary tales and expert advice meant to steer you clear of costly legal missteps and ensure a smoother path to property inheritance and estate management.

In this episode, you will hear:

• Jennifer Felton’s insights on transitioning from an escrow officer to a real estate attorney and law firm owner
• California's transfer-on-death deeds as a probate-free property transfer method
• Partition actions and the legal complexities of sibling inheritance disputes in California
• The impacts of California's Propositions 13 and 19 on property taxes and inheritance
• Cautionary tales of estate planning errors, particularly altering joint tenancy agreements
• Challenges of using small estate affidavits and the importance of comprehensive estate planning.
• Legal tools and court processes for resolving property disputes and managing estates effectively

Resources from this Episode

The 6-Stage Probate Process: How to Navigate California Probate: https://a.co/d/82310Rw

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Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.