• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Transfering property into a trust

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

PowerMark

Junior Member
What is the name of your state (only U.S. law)? Indiana

I am currently looking into setting a up a trust for my mother-in-law, of main concern is the home she lives in. After studying the information about transfering the home to a revocable trust, I see that we need to change the title of the home to reflect it inclusion in the trust, and this takes time , estimated 8- 10weeks. My question is what happens if she dies after the paper work is started, but before it is complete.What is the name of your state (only U.S. law)?
 


TrustUser

Senior Member
you need to create the trust by notarizing the trust document. then write a deed that transfers it from her to her trust.

in california it is not necessary to record before death, but you should if you want to avoid any sort of complications.

there is no time delay, other than to create these documents.

if a person dies before the paperwork is complete, then the house was never transferred into the trust.
 

PowerMark

Junior Member
Ok, maybe I should have been a little more clear, I am not trying to avoid losing the house to Medicaid, I am simply trying to avoid probate. I also realize that drawing up the paperwork to create the trust could be done rather quickly, my point is that to change the "title" of the home to reflect its inclusion into the trust is not something I can do myself with an on-line package and a notary.
******
Quoted from Online Living Trust FAQ

How long will it take to make my living trust?
You will make your living trust in three stages:

Make the trust document. Making your trust document could take as little as a few minutes. But a living trust is an important document, so don't rush. Put aside an hour or two to think about your wishes.
Have your trust notarized. After you make the document, you need to sign it in front of a notary public. It shouldn't be hard to find a notary public near you, or you can have one come to you (this will cost more).
Transfer property into your trust. How long this takes depends on what type of property you put in your trust. Items without title documents are transferred by the Assignment of Property form that prints out with your trust document. However, items with title documents -- like real estate, cars or stocks -- may take a few weeks to transfer because you must have the title documents changed.

*****
Now with that said, if we began the paperwork to change the title of the home, does that mark its inclusion into the trust? or does that process need to be complete before the home is considered in the trust?

thanks for the feedback
 

curb1

Senior Member
Have you gone to your county courthouse and asked them the procedure to change the house title? It is very simple, generally. Should take less than 30 minutes (depending on how long the line is). It took me about 30 minutes each time I did it. It was then listed in the trust document Schedule A ("Standby Property"). Tax statements will be sent reflecting that the title is in the name of the Trust.

You asked, "Now with that said, if we began the paperwork to change the title of the home, does that mark its inclusion into the trust? or does that process need to be complete before the home is considered in the trust?
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top