Agent

Homeowner belittles value of living trust

Prior experience fuels negative perception
Published on Jun 7, 2006

DEAR BOB: I am a longtime reader and value your real estate knowledge. But I don't understand why you constantly recommend revocable living trusts to hold title to real estate. Both of my parents died within a few years of each other. When my mother died, her will left everything to my father. Our attorney handled everything promptly with no delays or large costs. When my father died a few years later, his will left his house and everything else to my brother and me. We were named co-executors of his will. Again, the same attorney handled all the paperwork promptly. We paid his fee and some additional expenses, which were not excessive. There was no federal estate tax or state inheritance tax. My will leaves everything to my wife (or to our children if we both die together). I don't see any reason justifying the cost of a living trust. Isn't a living trust just a tax avoidance scheme for the very rich? --Dan VanA. DEAR DAN: No. Revocable living trusts are for everyone who owns assets e...

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