Should I Transfer Real Property into a Trust?
For many people, your real property investments, including your home, are a large percentage of your total assets. Placing your real property into a revocable living trust could benefit you greatly by allowing certain exemptions, deductions and credits that would otherwise not be available to you.
The Basics of Living Trusts
Many people mistakenly believe that wills do not have to go through the probate. This is not true! In fact, the best way to avoid the arduous probate process is to make a living (or inter-vivos) trust. These trusts can be created in conjunction with a will, or as an alternative to one. Creating a living trust will save time, money, and the hassle of dealing with probate hearings. Here, we'll look at the basic aspects of living trusts.
A Living Trust Can Keep Your Estate Private and Help Your Heirs Avoid Probate
Some people believe that creating a will and naming and executor keeps their estate and real property out of probate. In fact, the probate court supervises the administration of a will after a person is deceased.