Real Estate Trust
One of the purposes a real estate trust (RET) is to preserve a home or other real estate interests and transfer them to another party. Holding title to the property in a real estate trust helps ensure that one’s wishes for the orderly transfer of property are carried out. In the absence of an RET, property can unintentionally transfer to a spouse or other party. Properly structured, some of the benefits of having a RET include asset protection privacy, avoiding guardianship of the property if you become incapacitated, and ease of assigning an interest in real estate. Further, without changing public records alternate and successor trustees can be appointed if the trustee ceases to act. In addition, living trusts allow trust property to pass directly to beneficiaries without the necessity of going through the probate process.