7 Tips on How to Establish a Trust for Real Estate

trust for real estate

Setting up a trust for real estate assets is a great way to protect your assets. It’s also a good way to make sure your wishes regarding their distribution are carried out. By understanding the different kinds of trusts available and the process for setting them up properly, you can take full advantage of this valuable tool.

Consider the Purpose of Your Trust for Real Estate.

Before you begin the process of establishing your trust for real estate, it’s important to consider the purpose and goals it should accomplish. What do you hope to achieve by setting up a trust? Are you looking for tax advantages, estate planning benefits or asset protection? Answering these questions will help inform your decision and ensure you select the most effective type of trust.

Research the Different Types of Trusts for Real Estate.

Doing research about the various types of trusts available is important for selecting the right one. There are different types of real estate trusts, such as living trusts, complex trusts and special needs trusts. Research which one best fits your needs depending on your individual financial situation. Make sure you understand the language used in trust documents, so you can make an informed decision on what type works best.

Choose a Representative for Your Trust.

Choosing a representative for your trust is one of the most important parts of establishing a trust. A trustee is the person responsible for managing and administering the trust according to its provisions. You can choose an individual or corporation as your trustee, who will be liable if they fail to administer the trust properly. Make sure you carefully research any potential trustees and review their references before making a decision.

Gather All Necessary Documentation and Assets for the Trust.

Before establishing a trust, the settlor must collect all documentation and assets necessary for the executing the trust beforehand. This includes assigning a trustee, collecting legal and financial documents such as real estate deeds, any applicable tax returns and banking information, as well as personal wishes or desires related to their property. Be sure to list all of this in detail to help keep everything organized and ensure that everything is done correctly.

Consult an Attorney for Expert Advice and Help Drafting Documents for the Trust for Real Estate.

Establishing a trust requires comprehensive and correct paperwork for it to be legal. Consulting with an attorney is the best way to make sure you will out all documents correctly and that all of your wishes are accounted for. An attorney can also help drafting documents such as the trust agreement, which outlines beneficiary rights, trustee duties, and direction on how assets should be managed. They can also put together other materials like estate planning documents which will further protect your real estate investments in the years to come.

Do You Want to Create a Trust For Your Real Estate?

Attorney Paul Deloughery has been helping protect real estate since 1998. He founded this law firm to help families protect their assets. Give us a call at 602-443-4888. We’re here to help.


Founding attorney Paul Deloughery has been an attorney since 1998, became a Certified Family Wealth Advisor. He is also the founder of Sudden Wealth Protection Law.



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