A Trust is a Must
I have some headache-saving advice. When you purchase a home, make sure you create a living trust for this valuable piece of real estate. I promise, you could be saving your heirs from an avalanche of hassles. Why? Because a trust places your assets safely in the care of a trustee, who will make sure said property goes to the right people when it’s time for inheritances to be distributed. No doubts, no questions, no arguments. Ownership is crystal clear well in advance, tremendously minimizing future inconveniences, headaches, stress, and aspirin consumption.
I can hear some of you now as you toss your heads self-righteously into the air. “Everything is peachy. I don’t need a trust.” Guess again. Assets not protected by a trust could become tied up in a legal labyrinth known as probate. The possibility looms, even when a will has been created.
Probate in Nutshell
Basically, the probate process enables the court to oversee the transfer of property to the rightful heirs. If your real estate is worth at least $10,000, it could be subject to this legal intercession.
Of course, we all know that a journey through the legal labyrinth probably won’t be a joy ride. Along the way will be plenty of tangles and snarls that do a great job of draining time, money, and energy. Still think your home is safe?
The Right Move
Do yourself a huge favor, and put your home snugly into a trust, whether you purchased it yesterday or ten years ago. Unless, of course, you’d rather your heirs inherit a long, drawn out court proceeding, along with whatever property the legal system decides is theirs.
Would you like to learn more about protecting your home with a trust? Maybe you’ve even created one, and you’re ready to share your experiences. I’d really like to hear about it, so feel free to reach out in my direction. Or fire your questions and comments into the comment box below. There’s always a vacancy.
And, of course, if you want an instant connection to the latest info and opportunities in the Beverly Hills real estate market, I’m ready to make it happen. Call or email today.
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