How can I put my home back into my revocable trust without the cost of using a lawyer?
A revocable living trust can be a useful and practical estate planning tool for certain individuals, but not for everyone. This type of trust is most commonly used to avoid probate because, unlike property that passes by will, trust assets are distributed directly to heirs. This type of trust is also used as a way to maintain management of one’s financial affairs during a period of incapacity because someone else can immediately take charge when needed. A revocable living trust does not minimize income, gift, or estate taxes, nor does it shelter trust assets from creditors in most cases. Unfortunately, some Attorney’s automatically recommend a revocable trust as part of an estate plan when they are not needed. This adds extra cost to the plan that might not need to be spent. A revocable living trust (also known as an inter vivos trust) is a separate legal entity created to own property, such as a home or investments. The trust is revocable, which means that during the grantor’s lifetim
