- Avoids Probate
- Protect Against Incapacity
- Control Over Asset Distribution
- Keeps Your Affairs Private
- Easier to Update than a Will
- Manage Your Affairs While Living
To convey your property into the Trust, you will sign a Deed conveying the property from yourself individually to yourself as Trustee of the Trust. The Deed needs to be recorded with the Registry of Deeds in the County where the Property is located.
Yes. Sometimes people forget to place their assets into the Trust, or their assets change, and a Will captures any of those assets that are left out of a Trust.
No. A Mortgage will not prevent the transfer of the property into a Trust.
Yes. You will have to notify (if applicable):
YES. Your current Owner’s Title insurance Policy is still valid and covers the Trust as the new owner and there is no additional cost to you.
NO! The Transfer is exempt from transfer tax.