Tag: family trust

Estate Planning for Your Home- Trust or Transfer on Death Affidavit

You own your home and want to ensure that it passes to particular loved ones upon your death but you’re not sure the best way to do it. This blog post will break down your options for you.

Survivorship Deed

First, it is important to look at your deed and determine how the property is held. Often married couples have a Survivorship deed. With a Survivorship deed, upon the death of one spouse, the real estate transfers to the surviving spouse outside of probate. What that means is that when one spouse dies, the survivor won’t need to go through a court proceeding to transfer the property to the survivor.… Read the rest

What Your Lawyer Didn’t Tell You about Your Living Trust

A living trust, also known as a revocable trust or a family trust, is a trust you establish during your lifetime.  Most people establish living trusts with several goals in mind, setting forth how they wish their assets to be distributed upon death and avoiding probate.  What many attorneys forget to make clear to their clients, however, is that a Living Trust can only do its job if it is funded. 

What does it mean to fund a trust? Funding is the process of transferring the ownership of your property or changing the beneficiary designations on your property into the name of your trust.  Unless your … Read the rest