Should you set up a trust on your Louisville home?

The Importance of Trusts in Protecting Your Louisville Property

Real estate in Louisville is not just about buying and selling homes; it’s also about ensuring that your assets are protected and managed effectively for long term generational wealth building. Setting up a trust for your property might sound complicated, but its benefits far outweigh the initial effort and it’s really not that complicated with the right team. Let’s dive into the reasons why it’s crucial to set up a trust on your Louisville house.

Every homeowner’s journey is unique, but a common concern is ensuring that our properties are well-taken care of after we’re gone. As the age-old adage goes, only two things are guaranteed in life: taxes and death. Why not make arrangements while we can to ensure our loved ones do not have to go through more complicated process then what is needed.

The Lengthy and Costly Process Of Probate In Kentucky

Without a trust or will in place, properties often have to undergo the probate process– a legal procedure that is time-consuming, costly, and mentally draining for the loved ones left behind. It involves validating a deceased person’s will, identifying their assets, and distributing them accordingly and having to pay a bunch of money to the government which we already do every day and every year.

By placing your Louisville house in a trust, your heirs can avoid the probate process entirely. Instead of prolonged court proceedings, they’d inherit the property within the trust’s name, saving significant time and money and you are still able to access the money as long as you have authority to within the trust and you can still set up a bank account and write checks like how you could if it was in your personal name. You can also sell the property in the trust without having to go to probate as well so if you inherit a property and you want to sell it then you can do that a lot easier and quicker.

Should I set up a trust for my louisville house?
Creator: designer491 | Credit: Getty Images/iStockphoto

Privacy and Asset Protection: More Reasons to Consider a Trust

Beyond just bypassing probate, trusts offer homeowners additional layers of protection, especially when it comes to privacy.

By keeping your property under a trust, you ensure your details aren’t easily accessible in public records. This privacy measure protects homeowners from potential solicitation and spam calls. Whenever you put a property in a trust they are not able to see who the owner of that trust is immediately like they were if the property was in your name so therefore it is harder to research your trust.

With a trust, property ownership details remain confidential. This veil of anonymity means that people can’t trace ownership back to you, offering another layer of security.

The overarching recommendation? Set up a trust for your Louisville property as soon as possible and do not wait. Not only does it provide peace of mind, but it also ensures a smoother transition for heirs and maintains your privacy. I have heard typically around 20 to 30% is what people lose on average whenever they have to go through the probate process which nobody wants to lose that much money whenever they inherit a house in Kentucky.

Recommended Help In Kentucky For Setting Up A Trust.

If you’re considering this step, a trusted recommendation is Borders & Borders Title Company located at 920 Dupont Road in Louisville, Kentucky. Even if they can’t directly assist, their vast experience means they can guide you to someone who can help you out throughout the process.

If you, or someone you know, is contemplating selling a property in Louisville, there’s a lucrative referral program on offer. By referring a potential seller, once the sale is complete, you could receive a referral check for $1,750 for every single property that you bring us that we close on and repeat customers actually get $2,500 or more on their second referral that they bring to us.

If you are setting up a trust for properties that you will be inheriting and you would like to see what you can get for those properties fill out a form right here to get a no obligation offer.

Protecting assets is as crucial as acquiring them. Setting up a trust for your Louisville house not only assures a hassle-free inheritance process for your loved ones but also gives you the privacy and peace of mind you deserve. Act today and secure your property’s future.

Should you set up a trust on your Louisville home?
Speaker 1:
Do you have a trust set up for your properties or are you wondering when you should get a trust set up for your properties? And my answer is going to be as soon as possible so that you can have a trust for your properties that also has instructions on what to do if anything ever happens to you because as the famous saying says, there’s only two things guaranteed in life taxes and death. So, we might as well take care of our properties and asset protection while we are still alive so that our loved ones do not have to go through that whenever we are not here.

And what I mean by that is if you don’t put your property in a trust, if you don’t have a will, then they’re going to have to go through probate, which costs a lot of money, a lot of time, a lot of effort. And then they have to go through all that whenever if you would’ve put it in a trust or had a will, they would just be able to inherit it within the trust name and not have to go through all that. Save a lot of time, save a lot of money, and be in a much better position for whenever you pass on what to do with the assets and everything else that is there.

So, this is why you should set up a trust. You should also set up a trust because it helps you as far as public information, if you have a trust, it is not as public as your personal name. So people are not able to track you down, trace you down, or see who owns what property, therefore, keeping you more protected and more secured and out of the way of seeing who owns this property.

So those are my recommendations on why you should get a trust set up, and I think you should do it immediately. If you need to do this, my recommendation would be Borders & Borders Title Company in Louisville, Kentucky. They are 920 Dupont Road in Louisville, Kentucky. And they would probably be able to help you out with this and if not, they’d be able to point you in the right direction for it. And if you know anybody who’s looking to sell a property, we are currently doing referral programs for $1,750 to where if you send somebody to us that wants to sell their house. Send us their name and their number, we’ll give them a call. And then at the closing table, whenever we close on their property, you will get a check for $1,750.
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