If you are a homeowner, you should consider establishing a trust to protect your home from probate upon your passing. Probate can be a long and expensive process, and is often very trying on the loved ones left behind. Titling a home into trust is a common practice in proper estate planning. It ensures that the property will avoid probate court, and be distributed according to the wishes of the deceased.
Sometimes you will hear of owners placing their family or adult children on title as “joint tenants” to protect the property from probate upon the owners passing. However, this can often have adverse tax and legal implications. You should consult with an attorney before making any changes to title on a property.
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