Agent

Homeowner mistake a key cause of probate delays

Important information about how to 'fund' living trust

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DEAR BOB: About two years ago, I set up a revocable living trust and placed my checking, savings and stock brokerage accounts in it. But I recently realized the title to my condominium is not in my living trust. What must I do to place my condo into my living trust to avoid probate when I pass on? --Larry T. DEAR LARRY: You are not alone. Millions of homeowners create their revocable living trusts to avoid probate costs and delays for their heirs but they forget to "fund" it with title to their homes. Purchase Bob Bruss reports online. This is especially important if you own real estate in more than one state, otherwise probate will be required in each state where your properties are located. The easiest way to transfer title to your condo into your living trust is to sign a notarized quitclaim deed in recordable form from yourself to yourself as trustee of your living trust. Then record it with the local recorder of deeds. To be recordable, the quitclaim deed must usually include the...