There is no special trick to ensure that you continue to own the real estate you transferred to your Living Trust. You own it. There is nothing to do other than continue to do nothing—as you were doing before you established your Living Trust.
However, as I train you on how to live with your Living Trust while both you and your spouse are alive, I must engage in a training session on five concerns that you must consider when dealing with real estate that has been transferred to your Living Trust.
First Concern: Owning Your Living Trust Real Estate
When I explain to my clients that they need to transfer their real estate to their Living Trust, I often see them wince in discomfort, as if they had been hit in the chest with a tennis ball. As one client said, “Mr. Condon, I feel very uncomfortable transferring my house to my Living Trust. This is my house. I want to make sure it stays in my ...