Life is Unpredictable: Set Up a Trust (Regardless of your Age!)

It's never pleasant to think about the unthinkable—death and accidents. Alas, life is unpredictable.....just in the past year, two of my clients had freak accidents (one fatal) and a friend was diagnosed with stage 4 cancer. There's currently a condo for sale that belonged to a young woman who tragically lost her life due to domestic abuse. Death and accidents aren’t just a concern for older homeowners; it can affect anyone at any age. Probate, a lengthy and costly court process, decides what happens to your assets after you die or become incapacitated. Even if you have a will, your estate will go through probate upon your death unless your home is titled with the right of survivorship. Shockingly, $2 billion is spent every year on probate attorney fees alone! To protect your assets, you may want to consider holding your home in a trust. Why Set Up a Trust? Avoid Probate: Probate can be long and expensive. With a trust, your property skips probate, making things quicker and easier for your beneficiaries, saving them time, stress, and money. Protect Your Stuff: Trusts can keep your assets safe from creditors. Control Distribution: You can make sure your assets go exactly where you want, following your specific wishes. Provide for Minor Children: Trusts can protect beneficiaries who might not be able to handle their inheritance, like young children, those with disabilities, or those at risk of financial mismanagement. Keep Things Private: Probate is public, so anyone can see the details of your estate. Trusts are private, keeping your financial matters confidential. Manage Property Continuously: If you can't manage your property due to an accident or illness, a trust ensures your property is managed according to your wishes without needing court involvement. Reduce Estate Taxes: Some types of trusts can help you cut down on estate taxes, keeping more of your money for your beneficiaries. Putting your home in a trust can give you and yours peace of mind, no matter what happens. If you have any questions or need help setting up a trust, feel free to reach out and I can connect you. Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

marketingcenter--