Cortes Law Firm's Podcast

As an Estate Planning Attorney, I know that each individual and family is unique. That is why we take time at the beginning of each relationship to sit down and visit with you regarding your goals and dreams. In this podcast, attorney Stephen Cortes covers estate planning, probate, and trust administration. Serious topics with a little fun thrown in...

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Cortes Law Firm's Podcast

087: Real Estate in Trust

November 20, 2023 • Stephen Cortes

https://corteslawfirm.com/real-estate-in-trust-2/

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Cortes Law Firm

5801 Broadway Extension Hwy Suite 110

Oklahoma City, OK, 73118

405-213-0856

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Real Estate in Trust. This is so vitally important if you have a revocable trust, getting your real estate in trust, if you're going to spend the money and the time and thinking about it and talking to family about it and talking to your financial adviser, talking to your estate planning lawyer, talking to your CPA, talking to your bookkeeper. If you're going to spend all of that time and effort to get a revocable trust, then it is essential Guys, this is essential that you get your real estate into trust. It has to be into that revocable living trust or else if it's not like I've talked about in previous videos in this playlist, then if it's just in your name when you pass away, then that piece of real estate is going to have to be probated And it's not only if you were to become if you if you pass away, if you become incapacitated and that's a rental house, there might be some issues on who they're supposed to pay their rent to your tenants. Right. So you want to make sure that all of these assets, all of your real estate is in the name of your trust. Now, there can be some maybe some intricacies or maybe some differences, depending on which jurisdiction on how to do this. But it's really important that if you do have a revocable trust that you get your real estate into trust. Talk to your financial advisor, talk to your estate planning attorney, and make certain that all of these assets, all of your real estate is in trust so that you're revocable living trust centered estate plan works exactly how you want it to work.