When it comes to creating trust, the creator may forget to include some assets or property. What if a creator of the trust has forgotten to transfer an asset or a real estate property? If you are not sure about what to do, click here.
Reasons leading to the forgetfulness
Whether the creator has not transferred the property into the trust or overlooked certain assets, the only way out is to file a Heggstad Petition. You have to undergo the procedure regardless of any reasons leading to forgetfulness or overlooking on part of the creator of a trust.
As a human being, any person may forget things, and there is no wonder in that since there is a legal solution in the form of filing a Heggstad Petition with the help of a lawyer.
What to do if it has happened to you?
If it has happened to you, the forgotten or overlooked property cannot reach you as a beneficiary or receiver unless you follow the legal process called Heggstad Petition.
In the situations stated above, properties or assets first pass through California Probate Code otherwise they will not be transferred to the potential beneficiary according to the living trust of the deceased person.
The only way to bypass the probate process
If the creator of the trust forgot to transfer the property to the living trust, you have to follow the entire process as was just stated above without any further ado. The earlier you file the petition, the better it is.
Once it is obvious that the forgotten asset must go through the legal process, it makes no sense to make undue delays. In California, the only way to bypass the probate process is to file a Heggstad Petition so you are not supposed to look further for an alternative solution.
