We all know that a house is one of our most important investments. If you’re in the market for a home, looking to sell, or are interested in becoming an investor, you might be familiar with various mortgage products, the current mortgage rates, and the reputation of the local school system, but how much do you know about trusts? There are some fairly straightforward planning tools to consider when thinking about buying real estate. Let’s take a look at the realty trust:
Settling a realty trust and recording it in your county’s registry of deeds allows you to transfer title to yourself as trustee, or an independent trustee, with designated alternate trustees who can step-in upon your death or incapacity, thus avoiding potential probate court involvement. A realty trust also simplifies the future transfer of ownership interests. Your living revocable trust can be the beneficiary of your realty trust, or you might have an LLC as the beneficiary. The realty trust can provide for anonymity of ownership, probate avoidance, and ease of transfer.
Check out my blog post to learn more about why I’m a proponent of realty trusts
Call my office today at 617-702-2449 or email me at [email protected] if you’d like to further discuss estate planning options with real estate.
Tim Robertson is the Managing Principal Attorney of T FRANK LAW, PLLC, a boutique estate planning and probate law office in Charlestown, MA.
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