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Cleaning House: A check-up on estate planning for real property

David Bawden
David Bawden | Withers Bergman LLP

David Bawden is a senior paralegal at the international law firm of Withers Bergman LLP, which focuses on representing successful individuals, their families and their philanthropies.

On-Demand: June 6, 2023
Cleaning House: A check-up on estate planning for real property

$95.00 1 hour CLE

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Program Summary

Real property owners regularly transfer title to a revocable trust, irrevocable trust, or legal entity to avoid probate, provide for efficient and private means of managing and dealing with property in the event of incapacity or death, for privacy purposes, or to achieve other estate planning goals. However, these are not “set it and forget it” strategies, the initial transfer of property to the trust or entity is only the first step. There are important additional actions to ensure the planning has maximum effect, such as updating title and liability insurance to adequately insure the owner of record, and addressing issues related to homeowner’s and/or homestead exemptions. This session will address what should be done after title is changed and what can go wrong when certain steps are not taken.

Key topics to be discussed:

  • Why transfer real property to a trust or legal entity?
  • How to ensure refinancing doesn’t result in an undesirable title change
  • How to ensure adequate homeowner’s (and similar) insurance policy coverage and title insurance coverage
  • How to address homeowner’s property tax exemption and the homestead exemption for a primary home

Date: August 15, 2023

Closed-captioning available

Speakers

David Bawden_Withers Bergman LLP_myLawCLEDavid Bawden | Withers Bergman LLP

David Bawden is a senior paralegal at the international law firm of Withers Bergman LLP, which focuses on representing successful individuals, their families and their philanthropies. With over 18 years of experience, David leads Withers Bergman’s California paralegals team, has previously presented at five seminars regarding probate administration, including top probate problems and how to solve them, and is widely known as an outstanding contributor to the Trusts & Estates Section listserv at the Los Angeles County Bar Association.

He handles all aspects of trust and estate administration and accounting, gift and estate tax return preparation, real property and property tax, oil, gas and mineral law, nonprofit and for-profit corporate formation, compliance and dissolution, and drafting of wills, trusts and ancillary documents.

Agenda

I. Why transfer real property to a trust or legal entity? | 2:00pm – 2:15pm

II. How to ensure refinancing doesn’t result in an undesirable title change | 2:15pm – 2:30pm

III. How to ensure adequate homeowner’s (and similar) insurance policy coverage and title insurance coverage | 2:30pm – 2:45pm

IV. How to address homeowner’s property tax exemption and the homestead exemption for a primary home | 2:45pm – 3:00pm

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