Estate planning isn't the most exciting topic, but it's one of the most important decisions homeowners can make. One question that comes up often: Should your house be owned in a trust?
What Is a Trust?
A trust is a legal arrangement that allows a third party, known as a trustee, to hold assets on behalf of beneficiaries. Unlike a will, a trust can help manage how and when your assets are distributed—and it can also avoid the lengthy process of probate.
What Happens If You Die Without a Trust?
If your house is not in a trust (or covered by other estate planning tools), it will typically go through probate court when you pass away. Probate can be:
- Time-consuming: It can take months or even years
- Costly: Court fees and legal costs can reduce the estate's value
- Public: Probate records are public, so details about your estate aren't private
During this process, the court oversees the distribution of your assets according to your will—or state law if you don't have one.
Benefits of Putting Your House in a Trust
1. Avoids Probate
Your house can pass directly to your beneficiaries without court delays.
2. Provides Privacy
Trusts are not public record, unlike wills.
3. Adds Control
You can specify exactly how and when your home is transferred.
4. Potentially Saves Money
Avoiding probate may lower legal and administrative costs.
Is a Trust Right for You?
Not everyone needs a trust, but for many homeowners, especially those with significant assets or family considerations, it can make the process much smoother for loved ones. Consider a trust if you:
- Own property in multiple states
- Want to avoid probate delays
- Have complex family situations
- Value privacy in your estate matters
Consulting with an estate planning attorney can help you decide if placing your house in a trust is the best option.
The Bottom Line
If you die without a trust, your house will likely go through probate, which can be long and costly. Owning your home in a trust offers peace of mind, privacy, and efficiency for your heirs.
Ready to discuss your real estate and estate planning needs? Find a qualified broker who can connect you with the right professionals.