A living trust is a legal arrangement that lets you place assets – including your home – under the management of a trustee during your lifetime, with instructions for how those assets pass to your beneficiaries afterward.
Why homeowners use them
Property held in a living trust generally avoids probate, the sometimes lengthy and public court process required to transfer assets after death. That can save heirs significant time, cost, and stress.
Revocable vs. irrevocable
Most homeowners use a revocable living trust, which can be changed or dissolved during their lifetime. An irrevocable trust offers different tax and asset-protection benefits but generally can’t be altered once established.
How it affects a real estate transaction
Buying or selling a home held in trust requires documentation confirming the trustee’s authority to act, which your title company and closing attorney will request as part of the transaction.
Have questions about buying or selling a trust-held property? Call Dockside Realty at 850.225.9785 or email christine@docksiderealtyinc.com – and consult an estate attorney for guidance specific to your situation.