How to transfer real estate into your trust!
It is "QUIT CLAIM DEED" not Quick Claim.

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   • Real Estate in Trust  

0:00 How to transfer real estate into your trust
0:08 Do you have a rental property?
0:21 Trust must be properly funded
0:30 If you have a trust make sure all of your assets are in the name of your trust
0:39 The biggest asset is your home
0:56 Quick claim deed
1: 27 Language appropriate to the state that you live in
2:35 Warranty Deed
3:14 Funding your trust with real estate is extremely important
3:39 Being diligent with your assets
4:05 Probate process
5:07 Homestead exemption
5:58 Guardian process

How to transfer a real estate in your trust
Do you have a trust? Is your home in trust? Do you have a second home? Do you have a rental property? Do you have multiple rental properties? Are you a house flipper? Did you just create a new revocable living trust center estate plan? If you have a revocable trust, then it must be properly funded.

And that means anything that has a title showing ownership must be updated to show it is owned by the Trust. Your Trust. If you have a trust, then make certain all of your assets are in the name of your trust. That's called trust funding. The biggest asset most people have is well, their home. How do you transfer real estate, your home into trust?

If you go to an estate planning attorney and they prepare a revocable trust centered estate plan for you or you already have a trust, you can do it in one of two ways. The first is quick and pretty straightforward. It's a quitclaim deed. You've probably heard about this throughout your entire life. A quick claim deed from your personal name to the name of your revocable living trust so that the property is transferred into the name of your trust, where titling it in your trust.

For example, the current deed to the house of a married couple probably says something like this Jimmy Smith and Sally Smith as joint tenants with right of survivorship. When you transfer it to your trust, the quitclaim deed will state something similar to this. It'll say Jimmy Smith and Sally Smith transfer and convey to Jimmy Smith and Sally Smith trustees of the Jimmy Smith and Sally Smith Revocable Living Trust.

That's it. Now, the quitclaim deed will have other important language that is relevant to the state where you live in, but that is basically it. If you have the revocable trust done by an attorney, they will most likely do this for you as part of their revocable living trust package. We don't like our clients leaving our office without first putting their real estate into their trust.

The second way to transfer real estate is to have a tile company execute a warranty deed for you. Now we have seen people do this if they want to make certain that they have absolutely clean title. The reason for this is that the client themselves might have recently purchased the real estate by a quick claim deed, or maybe they bought it at an auction.

Now they're working on their estate plan, their retirement plan, and they want to make certain that there is clean title for their heirs. In other words, they want to clean up the title now and get rid of any issues so that their kids don't have to worry about it later on, or even their spouse in that case, they will actually go to a title company and have them do their complete package of title searches.

As you can see, we prepare the deed for them. They sign it in front of our notary when they sign all their other estate planning documents. Then we take it down to the county clerk's office and file that claim deed with a memorandum of transfer certificate of trust and file that with the county clerk the property card. By doing that, you have transferred your home real estate from your personal name to the name of your trust is usually a painless process.

To put your real estate into your trust fund, in your trust with the real estate is extremely important. The consequence of not transferring your real estate is guess what? It needs to be probated. It's a real bummer when a person did everything correctly. They spent all that money on a trust. They funded everything else correctly except for that one piece of real estate.
Very important. Bottom line on all of this trust fund, make certain that your property is titled correctly so that your estate plan, your retirement plan works correctly when it needs to remember that if an asset is not properly titled in the name of your trust, then it will have to go through the lengthy and expensive probate process. If you're still alive, then it's probably a guardianship process.
It's extremely important not only to avoid probate, but also to make certain that your heirs, the ones that you want to get your real property, actually receive it under the terms of your local living trust estate plan.