DEED TRANSFERS

Once you create a Revocable Living Trust (RLT), the next step is to make sure your real property is held in the name of the Trust. This includes your home, vacation home, rental properties, out-of-state properties, businesses, timeshares, and any other pieces of real estate you may own. 

Why is this so crucial? Think of your RLT as a fireproof safe. The purpose of having a fireproof safe is to safeguard make important paperwork and assets in case there is a catastrophic event. Your items aren't protected, however, unless you physically put any items into it. 

The same is true with a RLT. Merely creating the Trust is not enough; your real property must be "in" the Trust (i.e., titled in the name of the RLT) in order to avoid probate. If you pass away with assets titled in your name alone, your heirs will not automatically inherit the property - even if you have a RLT.

So if you want your real property to be inherited by your loved ones without issue, make sure that all assets are held in the name of your RLT.

The information contained in this websites provided for informational purposes only, and should not be construed as legal advice on any matter.

TOJI LAW, APC - 2018