And then what happens, and we see this over ad over again, is they sell that property and they buy a new property. We actually prepare the paperwork for them. At the time, we made certain that they put their real property into their name of the trust. Other examples we have seen is we have created trusts for people maybe 10 years ago or 11 years ago. But this example is a great illustration, unfortunately, of what can happen when you don't put your real property, your house, into the name of the trust. There's just no way around it, unfortunately. With real property, guys, if the person has already passed away, the only way to get it transferred from the diseased person's name into their heirs is to do a probate. His son and his son's wife were in my office trying to figure out what to do. Unfortunately, what happened is he took ownership of that piece of land behind his house in his personal name and he didn't put it into his name of the trust. Then what happened several years later is he had the opportunity to acquire the land behind his house, which made his lot even bigger and potentially worth even more money for sale later on. He was very diligent in putting, as soon as he did his trust, he put his rental property and his home into the name of the trust. One of them was a rental property and one of them was his house that had land connected to it. ![]() The father actually owned three pieces of property. I have seen this come up two times already where people have forgotten or they just didn't get around to putting their real property into their name of their trust.Īnd it just happened again this past weekend where a nice young couple, a husband and wife, came in and they were trying to administer his father's estate. ![]() Most importantly, their house, their real estate is extremely important because if it gets left out of the trust, guess what, it needs to be probated. ![]() The reason this has come up again is we are constantly creating new revocable living trust-centered estate plans for people, and when our clients come into us, we make sure that all of their assets are in their name of their trust. Now, we do explain in the video that we have other videos, but today I'm going to talk about exactly how to transfer real property, real estate, your house, into the name of your trust. And one of the things I see over and over in the comment section is that we don't explain exactly how to transfer property into trust. One of our videos that has gotten the most views, and I'm talking several thousands of views, is How To Transfer Property Into Trust. For the best estate planning, pronate and trust administration videos, subscribe to our channel, and hit the like button, the one like this, and the bell so you'll get notified every time we post a new video. If you have ever wondered how to transfer property into trust, then by the end of today's video, you'll have a better idea of what to do. How to Transfer Property into Trust without unnecessary cost and delay to your estate
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