Is it advisable to transfer a residence into a Revocable Trust?
If so, what sort of legal document would accomplish that?
1 Answer from Attorneys
In some cases, revocable trusts are an excellent tool to transfer assets after death without court involvement. In other cases such trusts are more hassle/expense than necessary and an even simpler approach (like a life estate deed) might achieve the desired result of transferring property without probate with less cost and effort. That said, revocable trusts are often well suited for situations involving minor children, blended families, real estate in different states or circumstances where the ultimate beneficiaries might not be able to effectively manage / own / sell the property by themselves.
To figure out whether a trust is advisable in your particular situation, you may want to sit down an talk with an attorney. In any event a deed is the appropriate legal document to transfer real estate into a trust (assuming the trust document has already been created).
My firm regularly assists with transfers into owner's revocable trusts for a flat fee, as may other law firms in this state. You may wish to reach out to an attorney to discuss your situation and how to best deal with your residence.
While not legal advice or a promise to represent, I hope this general information helps.
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