Can I Put My House in a Trust Without a Lawyer?
A trust has many attractive features when compared with a will. It lends you more control over your assets than a will, and items in a trust will not go into probate. Another big benefit is that a trust will also protect your privacy. Since probate is a public process, anyone could see what your estate was worth, all the items listed in it, and who received what. No one wants that!
If you want to protect your privacy and put your house in a trust, lean on an expert for help. Don’t try to put your house in a trust without the help of a lawyer. Without legal assistance, you could make costly mistakes that expose your home to risks like higher taxes and probate court.
What does putting a house in a trust mean?
Putting a house in a trust means transferring the title of your house to a trust. While you are in the process of funding your trust, this is something you may want to consider. Visiting your local estate planning attorney will help you secure the property deed you need. They will even fill the forms out for you, making the process quite simple. When it’s time to sign and notarize the deed, all owners must be present.
For example, if you and your spouse own a home together and want to leave it to your children, here’s how you would go about it:
- Talk to your estate planning firm so they can help you select the type of deed that will work best for your family.
- Make an appointment with your lawyer, and tell them you want to put your house in your trust.
- Bring your spouse to the meeting so you can both sign the deed.
- Let the lawyer file the record with the county on your behalf.
Can I put my house in a trust without the help of a lawyer?
Yes, you could technically place your house in a trust on your own…however, when it comes to legal work, it’s in your best interest to get help. Mistakes are common for DIYers, which is no problem when it’s a fun home project. But making a legal mistake in your estate plan or trust could be very costly.
You and your beneficiaries will be exposed to more risk if you put a house in a trust without the help of a lawyer. You don’t want to pay more money in taxes or have your home go through the probate process. Neither do you want to cause yourself heartache in the future by having to pay to fix your mistake.
Where can I find an estate planning lawyer in Phoenix?
Let a tax expert at Phelps LaClair do the work for you! We service the communities of Phoenix, Mesa, Chandler, Scottsdale, and Glendale. Our estate planners will ensure that everything is in order and that the process goes smoothly.
Phelps LaClair knows what works and doesn’t because we have been designing and implementing Living Trusts and Wills in Arizona for over 40 years. In Arizona, if you own a home or other assets worth more than $75,000, creating a Revocable Living Trust is one of the best estate planning decisions you can make.
Whether or not you already have an estate plan, you are entitled to a 90-minute, no-cost, no-obligation consultation with one of our experienced attorneys. Schedule an appointment by calling our office at 480-892-2488 or click here to request your free consultation.
photo by Ulla Alfons from Pixabay.com on 9/7/2021 | used under the creative commons license | no edits made