Should I Put My Homestead Property In My Revocable Trust?

 

 

Video Summary

 

Should I put my homestead property in my revocable trust?  If you ask all the estate planning lawyers as to whether or not you should place your homestead property in the revocable trust, probably half of them would advise you not to do so and the other half would tell you that it is not a problem.

 

If you do put your homestead property in the revocable trust, you will avoid probate, and that’s one of the big reasons why people set up trusts.  If you do put your homestead property in a trust, it may lose its protection from creditors unless you make specific provisions to leave your homestead property to an heir at law, and then it should continue to have protection from claims or creditors.  Hopefully you don’t have more creditors than you do have assets so it wouldn’t be an issue.

 

But if you’d like to discuss that issue, please give me a call at (727) 847-2288.