The Trust Transfer Deed: Why & When You Need It

Creating a trust might seem cut and dry at first glance, but there’s a lot more to it than just choosing who inherits what. In this blog, we’ll go over what a “trust transfer deed” is, why you might need one, and when you should use one. Keep reading for more information. 

What Is a Trust Transfer Deed?

For starters, the term “deed” refers to a legal instrument that transfers real estate, typically from one person to another. A trust transfer deed transfers real estate from a person into a trust. 

One of the main reasons for having a trust transfer deed is that it reduces the chances of probate being triggered upon your passing. The probate process can be complicated and lengthy, so it is sometimes a good idea to avoid it.

If you’re creating your trust for the first time, a trust transfer deed may be beneficial. This will transfer your real property into your trust, and therefore probate won’t be necessary. 

If you refinance your home, there’s a chance that the refinancing company will take your property out of your trust (so it’s back under your name as an individual) to complete the refinance. If your property isn’t put back into your trust, via a trust transfer deed, the probate process would be triggered upon your passing. 

How Do You Create One?

If you find yourself in need of a trust transfer deed, don’t stress. When you initially create your trust, your estate planning attorney will draft one for you if necessary. All you’ll have to do is sign the deed in front of a notary public. 

After the deed has been signed, it will need to be recorded in the county where the property is located. This can take anywhere from a couple of weeks to several months depending on the county. 

The probate court will give you the original and will keep a copy for themselves. 

An Estate Planning Partner You Can Trust

Protecting your legacy and your loved ones is important, but it can get really complicated really quickly. That’s why having an experienced estate planning attorney on your side can make all the difference. Not only is Kristin Waters Sullivan experienced: She’s also compassionate. She’ll make sure you feel cared for, listened to, and that your estate needs are met. 

Get in touch with us today to schedule a consultation.