Transfer of Real Estate
Transferring Real Estate into your Trust
While establishing a trust is an important step to protecting you and your family, it is equally important to ensure that your assets, such as your home and other properties, are transferred into the trust. Transferring real estate into your trust can help to avoid probate, save on estate taxes and ensure that your home goes directly to your loved ones. A deed is one of the most common and simplest methods to transfer real estate into your trust. At Smykowski Law Offices, we can help prepare and sign the appropriate type of deed/paperwork, to allow you to properly transfer the title of your home into your trust.
Will I still have control of my real estate if I transfer it into a trust?
When real estate is transferred into a trust, the legal ownership is changed from your name, to the name of your living trust. The reason that you are still able to have full control of your real estate, is because the creator of the trust, YOU, is considered the trustee until incapacity or death. You, as the trustee, will still have full control of your real estate, although your real estate is now technically owned by the trust. If you are incapacitated, your appointed trustee can step in and manage your assets until you are capable or upon death