Living Trusts avoid probate, but only if real estate property is titled in the name of the trust.
Irvine, CA (PRWEB) May 13, 2012
DeedAndRecord.com provides new online service to transfer real property into a Living Trust by quit claim deed. Living Trusts avoid probate, but only if the real estate property is titled in the name of the trust. Top three reasons real property has not been funded into a trust:
1. omitted when the trust was created
2. property was acquired after the trust was created
3. lender has required a transfer out of trust for underwriting purposes.
For more information go to http://www.deedandrecord.com or email Mark(at)DeedAndRecord(dot)com or call 949-474-0961
Deed and Record does it all.
1. Title search to determine the precise legal description; including map, block and lot number
2. Research to determine how title is held
3. Preparation of quit claim deed for signature
4. Preparation of tax exemption documents required by the County Recorder to keep the deed free of transfer tax and to avoid increase in property taxes
5. Filing with the County Recorder's Office
Trusts Compared to Wills
A will is the transfer of real estate from the person who has died to persons who are living under the supervision of the California Probate Court. Probate is a court action, costing about 5% of gross assets and taking about one year to complete.
A trust is similar to a Will, but with one major exception. That exception is how assets are transferred from the person who has died to persons who are living. Asset transfer by trust is a two step process.
First step, real property is transferred by quit claim deed in a Trust while the person is living, hence the term "Living Trust."
Secon step, after the person dies assets are transferred from the trust to persons who are living as directed in the Trust. Post death transfer of real estate property by Trust avoids court, costs less than $500 and takes one hour to complete.
This website is affiliated with DeedandRecord.com. Deed and Record is an online service to prepare quit claim deeds for real property transfers into or out of trusts, remove former spouses and add or remove co-owners. The Company records deeds it has prepared with the appropriate government agency. Deed and Record does not offer legal advice or services. For legal advice on estate planning, go http://www.BidwellLaw.com
The Company markets through websites, primarily DeedAndRecord.com. The owner of the websites is Mark W. Bidwell, Attorney at Law and CPA Inactive. The office is located at 18831 Von Karman Avenue, Suite 270, Irvine, California 92612. Phone number is 949-474-0961. Email is Mark(at)DeedandRecord(dot)com.