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Real estate trusts


Setting up a trust to hold real estate can be a great estate planning option. But, guess what? Real estate means bills! Maintenance, taxes, water, electricity, gas, hazard insurance - maybe even a mortgage!


So, when a grantor (the person transferring the property) is using his/her own funds to keep the property running during his/her life, what will happen upon his/her death?


Solution: a bank account titled in the name of the trust, with a nice cushion. This will help keep the property running smoothly with the successor trustee assuming the duties of managing the trust asset/paying the bills upon the grantor's death. This can mean the difference between major headache and stress to no problem at all and family harmony.


I can help with this type of planning.

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Ruth P. George

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