If you are wondering what a Heggstad Petition is & how it can help you if the creator of the trust forgets to transfer the property or asset to the trust, you have now stumbled across the right place because you are just going to get the right and brief answer to all the questions that might be running through your head right now. For a detailed account of the Heggstad Petition and all the things you must legally follow to let the property become your legal asset, you can visit here.
A very good legal option
The fact of the matter is that the Heggstad Petition is a very good legal option for you and it can help you in different ways. A Heggstad Petition is nothing but a legal process of submitting an application showing that you are the beneficiary or the receiver of the forgotten or overlooked property although the creator of the living trust had forgotten or failed to transfer the particular part of the property for any reasons.
That is how the petition can help you out and that’s what it is. That’s an overall or general idea of the petition, let’s learn more.
The law has the solution to the issue
Forgetfulness or overlooking is a part of human being, so there is no wonder. Anybody while creating a living trust may forget to transfer an asset to the trust, but the law has the solution to the issue. It is normal to overlook a certain property or asset for any reason.
The reasons for the overlooking or forgetfulness of certain property may be several, but in most cases, it is nothing but a slip of the mind. The property cannot reach the beneficiary without going through the probate process, however in California; you can bypass the probate by submitting the petition.