Properties In a Trust: Why?

"He Said, She Said"

If anything happens to one of us, we’ll need a way to have our home “disposed of” if that is the choice of whichever one of us is still alive.

Says Trust Attorney Robert “Bob” Sakai, “If you get to a point where you can’t handle your financial affairs, will you need to sell your property to pay your bills?  If you have your property in a trust, your trustee, someone you picked because you can rely on them, will be able to sell your property and pay your
bills without having to go to court.”

Most of our business recently has been property held in trusts. Although the beneficiaries may be numerous, all that’s need is a specific person or persons to act on behalf of the trust and all the beneficiaries.

She Said:  “While I don’t plan on leaving this world any time soon, if anything happens to me, I’d like for my husband to have free reign over our real estate without needing my signature or consent should I be incapacitated for any reason.”

He Said:  “Well, thank you very much!  We have several trusted trust attorneys (no pun intended!) we can refer folks to if the need should arise.”

Do YOU have your properties in a trust?

3 thoughts on “Properties In a Trust: Why?”

  1. Love this post. In addition, a trust is the only recognized vehicle that allows you to pass real property to your heirs without the need for probate, which is an expensive and time consuming process.

  2. Dear Anna May,
    I like your blog. I am an old neighbor of yours on Prospect (lived at 21856 Prospect). I’m a Trust and Estates Lawyer. If you ever had questions or clients that wish to have a free consultation, feel free to have them call our office. The attorney contributing to this blog entry I’m sure is very capable. However, I’m always available to speak as well, and can be viewed as another choice.

  3. Marty Lowe

    What about the property taxes. Will there still be an increased property tax assessment on inherited property that stays in the trust, and someone other than children or a spouse has inherited the residential property. Also, one of the inheritors or benificiaries now lives in the inherited home that is in the trust.

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