Should Property be in the Trust

[RMB]

In Florida, if you have a Living Trust, is there any reason why you should not have your home titled in the name of the trust?

 

[HomeGuru]

In Florida, if you have a Living Trust, is there any reason why you should not have your home titled in the name of the trust?

**A: your question is too general. Please explain.

 

[RMB]

I recently bought a home in Florida and forgot to have the name on the deed say the "The Trust" instead of "Mr & Mrs". A few weeks ago when speaking with a financial broker with a legal background if he knew a lawyer I could use to make a quitclaim deed to fix this problem, he said "you may not want the house in the name of the trust" and to "ask a lawyer before you change it". I would like to know if I should have the name of the trust ("The Trust") on the deed as owner or my husband and myself ("Mr & Mrs") as owner. Thank you. RMB

 

[HomeGuru]

This is a personal issue that should be discussed between you and your estate/trust attorney. There are many factors involved, pros and cons etc. and there are various different trusts. It is not just a simple matter of putting the words "The Trust" on the deed. An actual legal trust entity must be formed for this sole purpose. I trust you understand.