Attorney Thomas B. Burton discusses how to transfer ownership of your real estate from your individual name into the name of the Trustee of your Revocable Living Trust.
Transcript of Video: How Do I Get Real Estate Into My Trust After I Form My Revocable Living Trust?
Today's question how do I transfer real
estate into my revocable living trust
once I formed it if you've hired me or
another attorney we will draft your trust
and go over it and then once you sign it
that's the date of your trust creation
as of that date after that to get real
property into the trust you're going to
need to execute a deed into the trust
either a warranty deed or a quitclaim
deed is often a common way to get
property in as part of my trust packages
I include the deed for your primary
residence to get it into the trust after
its formed other attorneys have different
policies ask them if they help you with
funding the trust so you fill out the
deed and transfer property into your
name generally as trustee of your
revocable living trust then I take the
deed and file it with the County
Register of Deeds office so it's on file
and recorded I'll return the original
deed to you this is all that needs to be
done to get the property into a
revocable living trust one other smart
step is to inform your insurance company
your homeowner’s policy that you now hold
it in the name of the trust and they may
need to issue a rider or reissue your
policy in the name of the trust it's a
very simple process to get real estate
into the trust but one that's often
neglected it's important to do this with
real estate because it has a title a
deed for each piece of property and
those deeds need to be transferred into
the trust in order for the trustee to
effectively manage the assets and for
the trust to control disposition of
those assets after your death great
question and thank you for asking.
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Transcript and captions provided for ease of access for the hearing impaired.
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