How Can You Avoid (or Get Out of) This Title Mess?

One way is to have the lender, or the title company they use, transfer title back to you (as Trustee of your Living Trust) once the loan process is over.  But they may not want to do it or may wind up causing you a property tax increase if certain key details and steps are not followed. This is why most of our clients choose to have us do it (at a very modest price).

If you got a new mortgage or refinanced one after setting up your Living Trust, you can do a check on your title using the information on your most recent property tax bill - - or have us do it for you, if you are a client of our firm.  We highly recommend you come in for a free estate plan checkup meeting anyway if you haven’t within the past 3 years.  (If you’re not a client, you can schedule a free estate plan review meeting).

One Other Thing…

When you come in and see us, you may also want us to prepare and have you sign a new “General Assignment” document (free if you are an existing client).  Why? Because this document, assuming it is recent, can help avoid a full court Conservatorship or Probate (reduce them to a one time hearing) should any of your real estate in the future “fall out” of your Living Trust and you fail to realize it and get it back in.  It’s a kind of “secondary insurance coverage”, just in case!

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.