Putting your house in a trust could help your family avoid the long, complicated and expensive probate process.
A revocable, or living, trust would allow you to add or remove assets, change beneficiaries, or dissolve the trust.
You would continue to own the property, so it would be subject to estate taxes and seizure by creditors.
With an irrevocable trust, a trustee would legally own and manage the property.
This could help you avoid estate taxes and creditors, but you wouldn’t be able to change your mind later.
Talk to an estate attorney about your financial situation, goals, and the pros and cons of putting your home in a trust.
