Why would I put my home in a Trust?

Why would I put my home in a Trust?

You may have noticed an increase in the use of trusts to hold title to real estate. The most common type of trust is a revocable living trust. Think of this type of trust as an entity that you control completely. Once an asset is transferred to the trust the need to visit the Probate Court is eliminated. This is not creditor protection it is Probate avoidance. If the creator(s) of the trust becomes incapacitated or dies, the family will not have to seek a guardianship or death Probate for any asset held in the trust. Both time and money are saved by the use of a well drafted trust!

A do it yourself trust is not the answer, seek legal advice from an attorney who concentrates their practice in this area.

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