fbpx
TRUSTS

Trusts FAQ

Frequently Asked Questions About Trusts

Question: “Why should I put my house in a Trust?”

Answer: There are three big benefits to putting your 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?”

Answer: Yes, not only are you able to sell your house, you may purchase another house within the trust or transfer the funds out of the trust to make another purchase.

Question: “Will I lose my homestead exemption if I transfer my house to a revocable living trust?”

Answer: No, so long as it contains language stating that it is a qualified trust for purposes of maintaining the homestead exemption.

Download your free copy today!

An Essential Guide to Estate Planning, Administration, and Long-Term Care

As you age, your financial needs and health concerns naturally evolve. Estate planning allows you to age comfortably by addressing changes and challenges head-on. Holman Law has created an estate planning ebook to help you get started. 

More Questions About Trusts?

Please provide some basic information and we'll get back to you within 48 hours, during business hours.

Submit A Call Back Request

for any inquiry

 by Patice A. Smith on Holman Law
Holman Law: Steven Holman is an attorney with integrity.

He helped me, to feel confident and at peace, in his ability to assist me in all my legal matters and request. I had confidences and peace, that I ,would be serviced in an excellent professional manner.

This was my first time using attorney Holman and it won't, be my last!

Thank you Patrice. It was a pleasure working for you.

 by Rick Hodes on Holman Law
Fantasitc!

These folks were simply fantastic in preparation of my Will.

Thank you, Rick!

 by Marianne Baricelli on Holman Law
Steve Holman and his team took care of all of our estate planning needs

The entire process was quick, easy and quite reasonable. Thanks, Steve!

 by Dan Baricelli on Holman Law
It was a pleasure doing business with Steve Holman

It was a pleasure doing business with Steve Holman and his associates while preparing our family will and trust funds. The process was seamless and all of our options were presented clearly. The whole office environment and personnel were efficient and professional!

Page 1 of 15:
«
 
 
1
2
3
 
»
 
Scroll to Top