Definition
Trust ownership holds property in a trust rather than your individual name. Trust ownership provides privacy, easier succession, and probate avoidance. The trustee holds legal title while beneficiaries enjoy economic benefits.
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Trust ownership provides significant estate planning and privacy advantages. Property held in trust bypasses probate, remains private from public records, and can provide management continuity. Revocable living trusts are particularly popular for residential properties, allowing the settlor to maintain control during life while ensuring smooth transfers upon death. Trust ownership may have tax implications and requires proper maintenance to remain effective.
Pro Tip
Use trust ownership as part of a comprehensive estate plan to ensure smooth property transfers and privacy.
Example
A homeowner transfers their primary residence into a revocable living trust, maintaining control while ensuring it passes to heirs without probate.