Frequently Asked Questions About Trusts
Question: “Why should I put my house in a Trust?”
First, it avoids probate, saving your heirs thousands of dollars and many months of their time.
Second, your trustee can continue to maintain the house until it is transferred to your beneficiaries which prevents the house from losing value from neglect while waiting for a court to approve your will and appoint your executor.
Finally, if you're incapacitated during your lifetime, your trustee can look after your house (pay taxes and utilities, make repairs, maintain the yard and living spaces) until you recover.
Learn more about what assets can go into a revocable living trust in our blog.
Question: “Can I, as the trustee, sell my house if it is in a revocable living trust?”
Question: “Will I lose my homestead exemption if I transfer my house to a revocable living trust?”
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Atty. Holman was very thorough and answered all of our questions promptly. Most of the questions were via email, but he also spent time on the phone for the initial consultation, discussing our needs and reviewing documents after they were prepared. We never felt rushed or pressured. My wife and I felt completely comfortable and confident in his handling of our affairs. We highly recommend him !!
Steve's level of professionalism and care is outstanding. Steve has participated in numerous community events and each time, he blesses his audience.
Steve Holman did an outstanding job explaining complex estate matters to me and my 91 year old mother. He also helped us think through some sensitive non-legal, non-financial "elder matters" (like planning for a dignified exit and making sure her wishes were clear and codified). He is bright, energetic and has the perfect demeanor for constructively interacting with older folks. Hire him!