Top 6 Reasons to put your Property in a Trust

Top 6 Reasons to put your Property in a Trust

1. Probate Costs -- by placing your property assets in a trust you can help to reduce future probate costs.

2. Future Care Home Fees -- If your property is in a Trust, it doesn't go into care, you do. Therefore when the assessment arrives, no liens can be taken out against the property.

3. Bankruptcy -- should you go bankrupt and creditors show up on your door to clean you out, they can't take your property because you don't own it, they can't take it from you, the trust owns the property.

4. Divorce -- maybe your future ex-son-in-law or daughter-in-law - they will not be able to touch it or take half as your son or daughter do not own the property, the trust does.

5. Maintain Control -- you get to maintain CONTROL of your Assets. If someone places a lien on a property, you just lost control of the property and you won't be able to even refinance it.

6. Probate Time -- If you want your beneficiaries to receive the benefits of your life's work instantly, you put your house in a Trust and don't have to worry about the time factor of dealing with the courts which can be up to a year. You also don't have to worry about the court and attorney costs.

Source: Mike Pugh -- https://www.tiktok.com/@estateplanninguk/video/7152490461335211270?q=the%20benefits%20of%20using%20a%20land%20trust&t=1700234526811