Why It’s a Good Idea to Put Your Home in a Trust

Should you put your home in a trust? Absolutely. Putting your home in a trust can save you a lot of time and money. Typically, there are two reasons people put their home in a trust. The first is for the tax benefits. The second reason is to avoid probate. To learn why you want to avoid probate and how else putting your home in a trust can benefit you, watch my latest video.

Dave Knight
Dave Knight Real Estate Team
Keller Williams
251 S. Lake Ave. Suite 150
Pasadena, CA 91101
626-204-3352

[kosmogoddess]

Thank you. Great information and just in time!

[Dbb]

A simpler solution is a revocable life estate or what is known as a transfer on death deed aka a ladybird deed. You pass, the person named on the deed takes the death certificate into the county property office and the deed is transferred to the heir(s). Not available in all States. Much cheaper and nothing further needed.

[WilliamMurphy-uvpm]

And the real estate agent gets his fee for the sale. Slight conflict of interest. Should be explained up front by honest individuals.

[j.w.]

Hey Dave, very glad i watched your vid. My mother put her home in a Trust for me. My wife and I moved in about a year ago bcuz my mother in now in her 80's. This is our only residence and we plan on continuing to live here. I'm just concerned that, when she passes, i'll miss smthng and possibly lose our only dwelling. What do i do when that time comes. We're in L.A. county. Thanks.

[faithfamilybusiness]

Question for you, what if the beneficiaries of the property don't want to sell the property?

[theoamend]

If your house in the trust, still has a mortgage payment when you pass, must the person you leave the house to continue your mortgage payment or must they sell or refinance house upon your passing?

[bjhope]

In PA a trust still has to go through probate!

[britster]

O can u. Pleaser please help me my uncle is serving me a quit claim deed

[juans]

I live in Texas, am the sole owner of my house which I paid off in 1998. I enjoy reduced and fixed Real Estate taxes due to my old age and have a permanently disabled son who lives with me. I've heard of a "Lifetime Estate" which would supposedly avoid probate. Any truth to that? Also, what about my son being able to take advantage of lower taxes due to his disability upon my death?

[forexinvestmentmonster]

i recently placed a rental property in a trust, and made an LLC the beneficiary. i attempted to get insurance on the property and the insurance company is asking to see the trust document. my understanding is trust documents are private and not to be shown to anyone. should i allow the insurance company to see the trust?

[bjh]

I live in Las Vegas and they say I can only get a trust in Las Vegas is that true

[bootsie]

What if you’re not looking to sell it. What is a parent does a quick change of deed and puts the house under the child’s name. Then the parent passes away, what happens next? Does the child have to pay appreciation because the house went up in value how does that work? Should the parents still put the house in a trust even though they put it under the child’s name as well?

[dannye]

Hey Dave. Not sure if you’ll even see this. I’m in the process of doing a cash out refinance and they are asking if I want too have my wife added to the (title?). It’s been in my name now 25 years and never needed her income then or now. Is there a benefit to add it, and if so is a trust better? Thank you sir.

[nancysego]

Did the parents “suddenly pass away“ or did they conveniently pass away?

[uhlijohn]

What about holding property in trust within an LLC? As I understand it, an LLC avoids having to deal with any claims by creditors or anyone else suing perhaps due to a car accident (when damages exceeded liability insurance limits) or a slip, trip, or fall on the property.

[actualideas]

What is a “put”? I think the housing market will fall, can I short my house by using a put? And buy it back later?

[StickUp_]

Question: me and my husband have a revocable living trust; it has our house, bank accounts, etc. in it.

Our adult children have decided they don't want to sell the house... instead, they want to continue to own it and rent it out.

Can they keep ownership of the house?

(We live in AZ)

[padraiggluck]

In this lawless interlude if somebody in power wants your property they’ll just take it.

[cecillec]

I hate lawyers. Everything is about taking your money. Even the idea of a trust is theirs, and again they are milking it every which way. Remember Dante Alighieri's "Inferno"? The lawyers are at the bottom of the pit together with the friars.

[stevemyers]

drop the makeup whoever did it (gf?) doesn't know how to work on anyone else... sorry bud.