Vacation Real Estate in Trust

Cortes Law Firm is here to help protect your vacation home. A living trust is a good choice for vacation homes. It will allow you to keep control of the property without going through probate. You can also name successor trustees who will manage the property after your death. If you want to make sure that the property goes down to your children, then this should be helpful! For more information or questions about trusts click on our website below or contact us and we'll be happy to help you get started today!

Real Estate Empire

You've done all the hard work of amassing your very own real estate empire, only to have it wiped out by outrageous probate fees. Realize that without a will or living trust, state law dictates how your property passes on to heirs. All of the property—even if titled in one person's name alone—automatically becomes part of the probate proceedings.

Then along comes another headache: The executor has got to get it appraised, file reports with taxing authorities and identify every heir entitled to a piece of the pie before selling off your holdings. Meanwhile, he's supposed to be making sure that anyone who was supposed to get something gets it—and doesn't end up fighting over asset like a house with multiple beneficiaries. Not to mention the cost of hiring an attorney, plus court fees.

AVOID PROBATE

Give your property a much easier path by putting it into a revocable living trust that becomes irrevocable upon your death. Real estate tends to be an attractive target for predators—other family members or even ex-spouses—looking to cash in on your hard work.

Transferring ownership into a trust can make it harder for them lay claim to what is yours, since they'll have no power over what happens with the property while you are alive when you are dead.

Doing away with probate makes sense whether you own one house or several properties including commercial buildings, vacant lots and undeveloped land, all of which benefit from the avoidance of probate.

A properly designed trust can provide an alternative method of real estate conveyance that not only avoids probate, but is flexible enough to handle all kinds of property.

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Cortes Law Firm

5801 Broadway Extension Hwy Suite 110

Oklahoma City, OK, 73118

405-213-0856