Quote:
Originally Posted by VillagerNut
One thing for everyone to understand is if your house is in a trust from the previous revision, please either update your deed or keep a copy of your old trust since you will need that when you sell the house. The date that is associated with the trust on your deed is the one that they need to have when you sell your house.
|
The first paragraph of my revised trust specifies that it is a revision of the __________ Living Trust dated __________. My attorney said that everything that funded the original trust remains in effect, including my home, and that I do not need to make any changes.
Interestingly, she also told me that under Florida law, and since I receive a Homestead tax exemption, upon my death the ownership of my house will be re-titled to my heirs (my children) as co-owners, and is not subject to disposal by my successor Trustee(s).
But, of course, I also kept copies of the original and earlier revision. Thanks for pointing that out VillagerNut.