House Inheritance

[tammygirl1]

Hello, we found out my father's health is failing quickly. He had his assets put in an estate with my children as beneficiaries back when we first entered our ch13. I just found out that a house he owns is not in the estate. He does not want to alter his documentation to include. He has a beneficiary deed drawn up with me as beneficiary years ago. He has 2 equity lines against the home that equal close to the value of the house. The house is in MO and we are in CA. Does anyone have an idea what our trustee will do if my father passes? This is all so stressful already with this twist....
Edit: value about 35k and bringing in between 300-450 rent a month

[keepsmiling]

Hmmm.. no equity to speak of, can't believe a tt is going to want to be a landlord and then there are the selling costs...crapshoot guess here, I'd think a reasonable scenario might be that your payment might be raised by the added income from rent.
I'm sure others with more expert opinions will be along.
Sorry to hear about your dad.

[tobee43]

sorry about your dad, also sorry the property is not protected by the trust. most likely it will go into probate helf and then sold and then any creditors will be paid. if anything is left over it will be distributed to the family. you say the property wasn't put in the trust, was this an irrevocable trust? which in many states the grandchildren can have a max up to age 25 years before property need be sold off.