As a homeowner in California, it’s important to take proactive steps to protect your property and ease the burden on your loved ones. One simple action can save your family from long probate processes and unnecessary legal fees.
When property is held in someone’s personal name, it generally has to go through probate upon their passing. This can take months—even years—and often results in thousands of dollars in court and legal fees.
Why a Revocable Living Trust Can Help
By placing your home in a revocable living trust, you can completely avoid probate. A trust keeps you in full control of your property during your lifetime but allows it to pass directly to your beneficiaries upon your death—without delays, expenses, or public filings.
It’s an easy step that saves your loved ones time, money, and stress in the long run. If you haven’t already explored setting up a trust, it’s definitely worth discussing with your estate planning attorney.
3 Common Mistakes to Avoid When Putting Your Home Into a Trust
Many people create a trust to protect their home, but small mistakes can compromise that protection. Here are three key pitfalls to avoid:
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Not Updating Your Insurance
If your trust isn’t added to your homeowner’s insurance policy, your property may be uninsured in case of damage. This could leave you with no coverage or payout. -
Improperly Filed Deed
If the deed isn’t recorded correctly, your home won’t legally be in the trust. This means it will still go through probate—defeating the purpose of creating the trust in the first place. -
Incorrect Beneficiary Setup
Ensure your successor trustee, not the beneficiary, is listed properly. Failing to do so can trigger tax and ownership issues that can delay or complicate the transfer.
Pro Tip:
Always review your trust with both your insurance agent and title company after recording the deed to ensure everything is in order. This simple step can help you avoid costly mistakes down the road. This content is intended for information purposes only and not instructions. We are not attorneys. We therefore strongly suggest that you obtain proper guidance and counseling from a probate attorney.
Warm regards,
Geoff Rue
Call Geoff Rue For All Your Real Estate Needs.
GEOFF RUE
805-679-3365
Geoff@Compass.com
GeoffRue.com
CA DRE# 01939927
https://linktr.ee/GeoffRue
801 Chapala St, Santa Barbara, CA 93101
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