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Trust Funding Made Easy
Funding your primary home and real estate into a Family Revocable Living Trust can offer several benefits, including:
Probate Avoidance
One of the primary advantages of a revocable living trust is that it helps bypass the probate process when you pass away. Probate can be time-consuming, costly, and public, as it involves court proceedings to distribute assets. By placing your home and real estate in a trust, these assets can be transferred to your beneficiaries without going through probate, ensuring a more efficient and private transfer.
Asset Management During Incapacity
A revocable living trust allows for the seamless management of assets in the event of your incapacity. The successor trustee you’ve appointed can step in to manage the trust assets on your behalf, ensuring that your home and real estate are properly cared for and managed.
Privacy
Trusts provide a level of privacy that wills do not. When a will goes through probate, the terms and details become public record. With a trust, the terms and beneficiaries of the trust remain private.
Control and Flexibility
While you’re alive and mentally competent, you have full control and flexibility over the assets held in the trust. You can amend, revoke, or make changes to the trust as needed to adapt to changing circumstances.
Avoidance of Multiple State Probates
If you own real estate in multiple states, a revocable living trust can help bypass the need for probate in each state, simplifying the estate settlement process.
Clear Succession Planning
With a trust, you can specify how your home and real estate should be managed and distributed after your passing. This can help prevent disputes among heirs and ensure that your assets are distributed according to your wishes.
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