Q: What paperwork is needed to add a home in trust/will that he is 1/3 owner? One of the couples left a grand deed for one
Hello, my father is looking for a trust/will. Before he does we need to know what he has to do regarding his home. The home is divided into 1/3 married couples. Since purchased 4 individuals have passed leaving my dad and his bother left. One couple who passes set their son a grant deed to his name with the entire property address. Unclear if our dad needs to deligate that first or is good to start his trust/will. He has one property, 2 vehicles, 401k and banking only as assets.
A: It would be best for your father to consult with an estate planning attorney to ensure that his wishes for his assets and ownership of the home are properly addressed in his trust/will. The attorney can review the deed and ownership structure of the home and advise on any necessary steps to clarify ownership and ensure that it is properly included in the trust/will. Your father should also gather any relevant paperwork or documentation related to his assets and bring them to the meeting with the attorney to ensure that all necessary information is considered.
A: Your father will need to discuss an overall plan to meet his overall goals. But, to answer your question, he would need a grant deed to put his one-fourth share of the real estate into a trust. The deed is just the vehicle to put the real estate into the trust. The trust then acts as the “instruction manual” to say who gets which of your father’s assets. Best wishes!
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