What to do with Real Estate in a Living Trust?

[@Franky-j6e]

My cousin, for example, didn’t realize that having property in a living trust could save her kids from dealing with probate. Instead, they had a legal mess on their hands

[@Churchillhump2268]

That’s a big one, isn’t it? A lot of people think a trust is just for the super-wealthy, but it’s really about making sure everything you’ve built over a lifetime goes exactly where you want it, smoothly. It’s also a huge way to protect what you have from being drained by unnecessary fees and delays after you’re gone

[@Robby767]

Exactly. And what’s tricky is making sure the property’s properly titled in the trust. I knew a friend who thought her house was secure, but she hadn’t transferred the deed into the trust.

[@CunninghamLegal]

We're really sorry to hear that. Living Trusts have saved countless heirs millions of hours and untold millions of dollars. It is a proven strategy, and everyone should consider creating a revocable Living Trust.

[@EstatePlanEnemy]

@@Churchillhump2268 What are you an Estate Planner? 9 out of 10 times it doesn't go smoothly, because of all the Living Trust administrative steps the Estate Planners know nothing about, if it went smoothly the Estate Planners wouldn't be adding up all the mistakes. Our family paid half the Estate in Trust Litigation, next time around we'll use NICER approved Inheritance Administration Trusted Advisors to include the dozens of services our parent's Estate Planner who ran from the plan left out of the administration.

[@TrustVictim-f6y]

Baloney, a Living Trust avoided probate but cost our family a million in Trust Litigation when the Estate Planner who promised peace of mind ran from the plan. It needing the Latin Law Prebate Trust Administration costing half of what probate coat and a fifth of what Trust Litigation Cost.

[@TheK9Shepherd]

Other then a pour over will, is there anything else in a trust that can articulate to include real estate that's not yet inherited? Let me see if I can explain myself 🙂 Wife's mother has a revocable trust. The mother's house is in that trust and everything reflects that on the deed. My wife is the sole beneficiary of everything in her mother's trust (and executor, PoA, etc...) Mother is still alive. My wife and I are going to be getting our trust in place the end of this year. Is there anything we can put into our trust to say if there is any future inherited real estate, automatically include it into our trust. Does a pour over will cover that? I am guessing that since the deed then needs to be updated to reflect our trust name, that's really how it's done? Hope that makes sense (probably not) 🙂

[@CunninghamLegal]

Thank you for your question @TheK9Shepherd. You can put language in your trust as part of a belt-and-suspenders approach, but it likely won't get you where you need to be. Typically, when mom dies, the assessor is notified, the successor trustee gets a fair market value appraisal from a licensed real estate appraiser, an affidavit is filed reflecting the change of trustee, followed by a deed to the individual beneficiary of the trust (the person inheriting the house), and then (it's okay if it's on the same day) the “inheritor” conveys the property by a separate deed to the inheritor's joint (or separate) living trust. With separate property, it would make sense to discuss with a lawyer (at CunninghamLegal or your own if you already have one) with special consideration for whether to convey the property to a joint living trust or create a separate property trust. It all hinges on how the inheritor wants the property distributed at the inheritor's death. Great question by the way, and we hope this helps you! www.cunninghamlegal.com/california-law-offices/contact/

[@EstatePlanEnemy]

Don't count your chickens before they hatch get an amendment when the right time arrives.

[@TrustVictim-f6y]

@@CunninghamLegal Thank you for answering questions, Tree of Life has a free Trust, but they don't answer questions, although a free trust is dangerous in the hands of title thieves it does get the ball rolling to add the NICER FEDS Prebate Trust Administration arriving around Super Bowl time, Lord willing and the creek don't rise. We would like to trade it in and the easy to forge Anderson Advisor RLT and LLC for the Forgery Proof Title Holding RLT and Schedule C Counterfeit Free LLC, with Police and NICER on call to arrest title thieves.