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View Poll Results: What owns your house?
Person's name 166 90.22%
LLC or business 3 1.63%
Landtrust 3 1.63%
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Old 09-17-2017, 08:58 AM   #61
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For now, in persons' name. Eventually that may change but not in the immediate future.
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My Revocable Living Trust holds only my family homes
Old 09-17-2017, 09:25 AM   #62
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My Revocable Living Trust holds only my family homes

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Originally Posted by 523HRR View Post
Are there any downsides to having your home titled in a revocable living trust? And for those that do, did you set up a separate trust for the house, or just include it in your trust that holds your other financial accounts?
My revocable living trust has only my two family houses. (They are our residences. Neither of them is a rental property. Neither them has ever had a mortgage. My aversion to debt has had a calculable cost: while my new house has appreciated 3.4% according to Zillow, my stock market accounts are up 25%. ) My other financial assets are accounts at Schwab and Vanguard. They are not in the trust. They have TOD (Transfer on Death) designations. That over-rules anything I might say in a Last Will and Testament. Unlike a Will, though, I can easily change a TOD designation from my keyboard in two minutes. I used that power only once. When I married this year, I shifted my IRA heir to my spouse from my nephew, and another account TOD from the spouse to my nephew.
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