Q: I am in the process of purchasing a new home, and I need assistance to put the house in a trust account.
I am in the San Antonio area and the estimated time for the house to close is May 2023. Is this something you can assist with? If so, what is the estimated cost?
A: You should definitely schedule a consult meeting with an estate planning attorney to a trust prepared. They can help you by setting up the trust documents prior to the closing of the home, then the title company could deed the property directly into your new trust.
A:
You need to consult a licensed estate planning attorney to help you with this process. To put a house into a trust, you'll need to follow these general steps:
Fund the trust: To transfer the house into the trust, you'll need to change the title of the property from your name to the name of the trust. This is typically done by preparing and recording a new deed with the appropriate county office. Your attorney can help you prepare the necessary documents and ensure the title transfer is done correctly.
Notify your lender (if applicable): If you have a mortgage on the property, you'll need to notify your lender about the transfer of title. In some cases, the lender may need to approve the transfer.
Update your estate plan: Transferring a property into a trust may affect other aspects of your estate plan. It's essential to review and update your estate plan as needed to ensure it remains consistent with your wishes and goals.
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