How Can A Trust Own Property in Multiple States?


Attorney Thomas B. Burton discusses how a Revocable Living Trust can hold title to property in different states, helping you to avoid multiple probates in multiple states and also discusses how to get property in one state into your trust formed in another state.

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Transcript of Video: How Can a Trust Own Property in Multiple States?

Today's question has to do with a trust

owning property in multiple states or

how can a trust own property in

multiple states I recently got a call

from a potential client who lives here

in Wisconsin in the summer but lives in

Florida for six months in the winter she

met with a Florida Attorney who told her

she could form a Florida trust and

transfer both her Florida residence and

her Wisconsin residence into the trust

that's correct and it is one of the great

things about the trust I explained to

her that this would help her avoid

probate in two states instead of dying

with the will and leaving a probate

estate in Florida for her house there

and another probate estate in Wisconsin

for her home here she can form this

Florida trust and deed both properties

into the name of the trustee holding the

property on behalf of the trust that way

she avoids both a probate in Florida

and in Wisconsin easing the

administration of her estate following

her death her question for me was how

she would do this I advised her to wait

until she has that Florida trust formed

then give me a call and I'll help her

transfer her Wisconsin property via deed

into the name of the trust it can be

done the same in reverse if you had a

Wisconsin trust and wanted to put a

Florida property in and that's the great

thing about revocable living trusts

they're a flexible way to avoid probate

in many states. Great question and thanks

for asking!

© 2018 Law Office of Thomas B. Burton. All Rights Reserved.

Transcript and captions provided for ease of access for the hearing impaired.

For questions about this topic, or to suggest a topic for a future blog post, please contact my office.

#WisconsinTrusts #RevocableLivingTrusts #TrustPlanning #AvoidingProbate #FloridaTrust #WisconsinTrust #EstatePlanning #AttorneyThomasBBurton

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