Considerations on Trust Owned Real Estate.

Considerations on Trust Owned Real Estate:

Always consult with an attorney with specialized knowledge in estate planning.

If properly drafted the trust may provide several advantages, including, but not limited to:

  • Protecting the home as an asset

  • Minimizing estate taxes

  • Avoiding probate process of home

  • Privacy reasons for purchasers who of real estate who do not want to publicize their ownership of the property   

  • Florida Homestead Exemption intact (if trust and deed properly drafted!)

  • Avoiding potential conflicts between heirs (ex.  trust can place occupancy and distribution restrictions on the property, prevent partition, etc.)

This document is provided for informational purposes only and is not to be substituted or considered as legal advice.  Please consult with a qualified attorney.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s