One common misconception that often holds people back from estate planning is the fear that putting their house in a trust will make it difficult to control their asset or sell it in the future. As a trust lawyer in Williamson County, I can confidently say that this fear is based more on myth than reality.
The Fear of Losing Control
Many people worry that once they put their home into a trust, they lose control over it. They fear that it will be difficult to sell the home or manage it as they wish. However, this is not the case.
When you create a revocable living trust, you maintain complete control over the assets in the trust, including your home. You can sell, rent, or renovate your property as you see fit. If you ever decide to sell your home, the process is much the same as if the home wasn’t in a trust, with just a few additional forms to sign at closing.
The Reality of Trust Ownership
Trust ownership doesn’t hinder your control or flexibility when it’s time to sell. In fact, having your home in a trust can offer several advantages:
- Avoiding Probate:Â One of the primary benefits of a trust is that it allows your property to bypass probate, the often lengthy and expensive court process of settling an estate after someone dies.
- Planning for Incapacity: A trust can also protect you in the event you become incapacitated. If you can no longer manage your affairs, your designated trustee can step in to manage them for you, including your home.
- Privacy:Â Unlike a will, which becomes a public record when it is probated, a trust can keep your affairs private.
Work with a Trust Lawyer in Williamson County
Estate planning, including setting up trusts, can seem daunting. But with the help of a trust lawyer in Williamson County, you can navigate the process smoothly and confidently. A trust lawyer can provide you with the necessary guidance and advice to ensure that your assets are protected and your estate planning goals are met.
Don’t let myths and misconceptions prevent you from taking the steps you need to protect your assets and family. Reach out to us today and let’s discuss how trusts can help you accomplish your goals without the restrictions or hindrances you may have feared. Call us at 512-337-7271 to schedule your appointment.
